Issue link: https://read.uberflip.com/i/1440672
53 Latvia Q4 2021 Total Labor Force (000s) 951 Employed Workers (000s) 883 Unemployed Workers (000s) 68 Unemployment Rate 7.2% 909 899 892 885 883 Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021 6.0% 7.4% 8.4% 7.9% 7.2% Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021 68% - First Vaccine Dose (December 2021) Covid Update Employers may suspend and then dismiss employees who refuse the vaccine and will not move to remote work. Vaccine certificates are mandatory for healthcare, education, public sector and social care workers. 24% 20% 21% 0% 25% 50% 75% Employer Tax Profit Tax VAT Latvia Regional Average Other Cost Considerations - Tax Indicative Wages (USD) $1,062 $1,293 $3.30 $0 $5 $10 $15 $0 $2,500 $5,000 $7,500 Average Wage Manufacturing Wage Minimum Wage Latvia Regional Average 25,290 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2019 2020 2021 Working Population (in Thousands) Over Time Unemployment Rate Over Time Labor Force Statistics Hiring Demand Trend EUROSTAT Monthly Hourly Year on year wage inflation was at 8.9% In 2022, it is expected to be 7.5%. Key Sources: https://wageindicator.org/ https://ilostat.ilo.org/ https://www.worldbank.org/ https://tradingeconomics.com/ https://home.kpmg/xx/en/home.html https://taxsummaries.pwc.com/ https://ec.europa.eu/eurostat