Labour Market Measures in Latvia 2008–13: The Crisis and Beyond
Latvia was one of the world’s hardest-hit economies during the Great Recession. In 2008–09, Latvian GDP contracted by almost 25 per cent, employment fell by about 20 per cent and the unemployment rate exceeded 21 per cent. The sectors that suffered most were construction, industry and trade, but essentially the recession affected all sectors of the economy and all population groups.