OREANDA-NEWS. March 01, 2010. Though people are still apprehensive for the existing situation in the country, according to the newest "DnB NORD Latvian barometer" the outlook of economic development trends and material welfare of their families has become more optimistic. It was revealed by the newest study presented to mass media, reported the press-centre of DnB NORD Banka.

Still the absolute majority or 78% of all respondents are of opinion that the situation in Latvia has taken the wrong turn; however it is by five per cent points less than according to the precedent issue of "DnB NORD Latvian barometer". In turn, by three per cent points has augmented the number of respondents who have been vague, and 8% are certain that by and large the country development proceeds in the right direction.

When asked about development of the economic situation in Latvia by 11 per cent points up to 38% has grown the number of people who believe that it remains unchanged. However, from 69% to 55% has dropped the number of respondents in whose eyes the situation is deteriorating. As to the forecasts of the economic situation in one year, 17% tend to think that it will be slightly improved, which is by five per cent points more than over the precedent month. 34% are convinced that the situation will remain the same, and 38% - that it will deteriorate.

When projecting the family's material welfare in a year as compared to the existing situation 15% of all respondents believe that the situation will be slightly improved, 38% think that it will remain unchanged, and 27% are of opinion that the overall situation is getting worse. Over the last month by four per cent points (up to 19%) has grown the number of respondents who were not able to answer the question.

"As by mid February we have not been confronted with a new torrent of adverse news I would dare to express a circumspect forecast that in February the sentiments of the population might improve or at least take no turn down," says the Director of SKDS Arnis Kaktins.

Part Two of "DnB NORD Latvian barometer" this time was focused on the people's opinion on the situation in the labour market. Asked to describe three main problems that currently exist on the Latvian labour market most frequently or in 57% of all cases respondents pointed out that many companies have suspended or scaled down their activities, thus cutting down the number of workplaces. As the second problem respondents named the wish of employers to save costs on the expense of employees by reducing their salaries; and as the third – drain of workforce to other countries.

Too many Latvian people over the last year have faced the situation when friends or relatives lose their employment: 41% of respondents admit that many acquaintances have been fired, whereas 47% state that they are aware of fewer cases.

"Just a slight part of population makes out the problems in their own attitude as well - 6% believe that people can not work or do not want to, and 4% reckon that people are not ready to work more than during the "fat years".

"Thus both the companies and the country as such should focus in particular on explanation of impact of every single employee on the entity's efficient functioning, as only awareness of every employee of implied direct correlation between their activities on the one hand and professional development and place on the labour market on the other hand will enable both the company and the country in total to ascent," believes the Head of Corporate Banking Department of DnB NORD Banka Raimo Smukais.

Top three industries that have encountered the biggest employment problems according to the respondents are construction, heavy and light industry and state administration, whereas as three least problematic are regarded show business, catering and trade industries. 

"DnB NORD Latvian barometer" also demonstrates that the general public has to certain extent listened to opinions communicated through mass media and acquired emotional rather than pragmatic and grounded notion about industries that currently experience the greatest employment problems – as such are labelled construction (49%), industry (44%) and state administration (33%). According to the statistics, similar problems experience also other industries regarded by respondents less concerned, i.e. trade, catering and show business," says R.Smukais.

Most respondents, or 37% of all approached by "DnB NORD Latvian barometer" believe that the situation on the labour market will start to improve in 2013-2015, and only 1% answered that it will happen this year, whereas 9% have taken the most critical attitude and stated that positive changes are not to be expected.  

When asked to name three principal indications of a good job 79% of all respondents chose good remuneration, whereas 44% consider material also good business environment (office premises, tools, and business hours), and 33% believe that the job must be interesting. Likewise, the newest "DnB NORD Latvian barometer" reveals that 62% are ready to do less qualified job, if better paid, however 23% prefer more skilled labour even for lower pay.

"DnB NORD Latvian barometer" has become renowned monthly sociologic study in the country and appears on monthly basis. It focuses on the hottest issues of the given period; yet at the same time to the general public every time is addressed the list of regular questions that month by month indicate changes in the public sentiments.