Employment of older persons is at a record high

According to Statistics Estonia, in the 3rd quarter of 2018, the unemployment rate was 5.2%, the employment rate was 68.2% and the labour force participation rate was 72%. The unemployment rate remained low and is similar to that of economic boom years. The employment rate and the labour force participation are even higher than during the boom years. Employment of older persons is at a record high.

The labour market indicators did not change significantly compared to the same quarter of 2017. It is notable, however, that activity in the labour market among older persons, i.e. 50–74-year-olds, continues to grow. In the 3rd quarter, the employment rate of older persons reached 59.1%, which is the highest of the century. The labour market participation rate of older persons was 61.3% and their unemployment rate was 3.6%. Compared to the 3rd quarter of the previous year, the number of employed persons among age group 50–74 increased by 4,500 and the number of unemployed persons decreased by 3,000.

In the 3rd quarter of 2018, the indicators for 25–49-year-old persons, which is the most active group in the labour market, did not change significantly; their labour force participation rate was still high (88.1%).

The labour force participation rate of young people, i.e. 15–24-year-olds, was 46%. Although in recent years this figure has been stable, in the 3rd quarter of this year, the number of employed persons decreased and the number of unemployed persons increased in this age group.

Read more from Statistics Estonia