No Recovery In Sight

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Latest unemployment data from Statistics Lithuania shows official unemployment spiking to 13.8% in Q3, up from 5.9% at the same point last year. More importantly from a social stability perspective, the official rate of youth unemployment rose to 33.3% through September, compared to only 15.0% in Q308. Going forward, we caution that as the number of young jobless continues to increase, the risks of large-scale outbreaks of social unrest will rise accordingly.