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Lithuania
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Lithuania
Lithuania, with a GDP of $77.8 billion, ranks 79th globally and 47th regionally. With a stable working population, it offers a balanced labor market. Top industries include IT, electronics, and biotechnology. The unemployment rate of 7.0% suggests some challenges in job availability. Lithuania has a moderate number of recruitment agencies.
Lithuania'S
AGENCY LANDSCAPE
500
Agencies operating in Lithuania
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
Lithuania'S
FEATURED AGENCIES
Keylime Consultants
Manpower Group
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Lithuania'S
GROSS DOMESTIC PRODUCT (GDP) RATING
79
WORLD RANKED
Lithuania ranks 79th in the world by current economic output
$78B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
47
EMEA RANKED
Lithuania is the 47th biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Lithuania's GDP has grown, compared to the rest of the world and the EMEA region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Lithuania'S
CURRENCY AND CODE
€
Country currency
LTU
Country ISO code
Lithuania'S
INFLATION RATE
1.5%
CURRENT RATE
▼7.2% REDUCTION
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Lithuania'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Lithuania'S
LABOUR STATISTICS
2.8M
POPULATION
With a population of 2,810,761, Lithuania is a small sized country by global standards. Lithuania's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Lithuania is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Lithuania's elderly population is just above the world average, suggesting a growing dependency ratio, which may strain the labor market.
Lithuania'S
RELIGION AND ETHNICITY
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Ethnicity
In ethnically diverse countries, there may be a greater variety of candidates with different cultural backgrounds and experiences. Employers may need to focus more on inclusive hiring practices to ensure they attract talent from across different ethnic groups.
Lithuania'S
UNEMPLOYMENT RATE
7.0%
CURRENT PERCENTAGE
▲1.01% INCREASE
Lithuania has an unhealthy unemployment rate, suggesting there may be some economic or structural challenges . Between 2022 and 2023, there was a large increase, suggesting a negative shift in economic stability and significant decrease in job availability
Lithuania'S
TOP PERFORMING INDUSTRIES
Top industries
Petroleum refining
Information technology
Food processing
Lithuania'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
68
/
57
Male | Female
In Lithuania there is a medium gap in participation rates between males and females, indicating moderate inequality with some progress towards gender parity.
Lithuania'S
WORKING LIFE
$25K
Average gross annual wage (US$)
This figure represents yearly income before taxes. Higher wage countries are above $50,000 USD. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average compensation may be required for in-demand skills.
$2.1K
Average gross monthly wage (US$)
This figure represents monthly income before taxes. Higher-wage countries typically exceed $4,000 USD per month. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average monthly compensation may be necessary for in-demand skills.
Lithuania'S
WORKING LIFE
15DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
40HRS
Average working full time week
Overtime must be paid at 1.5x the regular rate for hours beyond the 40-hour workweek, with a cap at 48 hours weekly and 180 hours annually. Standard work hours are Monday to Friday, 8 hours daily.
Lithuania'S
TOP BENEFITS
126DAYS
Maternity leave
Maternity Leave: Eligible with 12 months of insurance, offers 126 days at 77.58% salary, extendable for complications. Paternity Leave: 30 days at 77.58% salary for qualifying fathers. Parental Leave: Paid up to 2 years; amount varies by child's age and number of children.
no maximum
Sick leave
Employees receive 62.06% of their salary during sick leave, with the first three days paid by their employer and the rest by the State Social Insurance Fund Board. Leave to care for a sick relative is paid from day one at 65.94%. Eligibility for benefits requires a minimum insurance record, unless exempt due to study or certain services, and a timely application for payment.
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