Informative Report on Medium and Long-term Labour Market Forecasts

 

Informative Report on Medium and Long-term Labour Market Forecasts
June 2016

 

In order to carry out the action 55.3 of The Government Action Plan: Declaration of the Intended Activities of the Cabinet of Ministers Headed by Laimdota Straujuma, as well as Paragraph 24 of the Cabinet Protocol Decision of 14 July 2009, the Ministry of Economics has prepared the Informative Report on Medium and Long-term Labour Market Forecasts.

 

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The report describes the current situation in the labour market and includes the medium term labour market forecasts for 2020 and long-term labour market forecasts for 2030 updated by the Ministry of Economics. The labour market forecasts are based on the scenarios of economic development and demography developed by the Ministry of Economics.
 

The labour market forecasts drafted by the Ministry of Economics are one of the tools allowing for early anticipation of labour market imbalances in the future. These forecasts show the possible trends in labour market development and the possible risks within the current education system and education supply structure. In addition, this Report evaluates the impact of the education policy measures planned by the Ministry of Education and Science on the expected labour market disproportions.
 

Forecasts are one of the stages in the process of adjusting the labour force supply. This is the quantitative basis for further discussions among employment, education, and structural policy makers, social partners, researchers and other stakeholders in order to duly prepare and adapt to the expected structural changes in the economy. Taking into account that, this Reports include description of labour market anticipating measures, which envisages the structured frame for discussions about future labour market challenges and necessary changes.
 

Last update:    11-11-2016