More jobs have been created despite gloomier expectations
The unemployment rate fell to the exceptionally low level of only 3.9% in the third quarter of 2019. The labour force survey also estimates the unemployment rate to be at its lowest ever since Estonia regained independence.
There is good news in this as a slightly larger share of the working age population was in the labour market than a year ago, and employment increased. The region that contributed most to the good position of the labour market was Tallinn.
The sector of the economy that saw employment continue to grow rapidly was the service sector. Employment increased faster in the public sector than in the private sector.
The labour force survey shows that employment also increased in manufacturing, even though the expectations of employers for employment in future have become more pessimistic. This is partly because Estonian manufacturing companies are not tightly linked to those subsectors in Europe that are experiencing difficulties. It is also possible that companies facing labour shortages are avoiding reducing their staff numbers if they believe that the setbacks to market demand are only temporary.
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