The Estonian economy recorded growth for the fourth consecutive quarter, which has helped stabilise the labour market and restore the demand for labour, says Estonian central bank Eesti Pank in its regular survey.
Based on Statistics Estonia, employment continued to grow in the third quarter of 2010. The number of jobs increased by 25,000 from the first quarter to 578,200. New jobs were primarily created in manufacturing, construction and retail, which are the sectors with largest cuts in jobs in the previous periods. Although seasonal factors played a big role in employment growth and the number of jobs in manufacturing and construction is still lower than it was a year ago, the data for the third quarter suggest that employment grew from the second quarter despite the seasonal factors. Employment was 3.3% lower than it was in the third quarter of 2009, but the pace of employment contraction has clearly slowed.
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Eesti Pank: labour market is recovering