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Al Kris on Lithuanian labor market dynamics: “I'm optimistic”

“Delta Management Solutions” director Al Kris claimed to be an optimist when summarizing his perception of current Lithuanian labor market dynamics and said that both – investor and job seeker sides should not be depressed when planning their prospects.

More foreign companies are coming in, others are expanding and even though in 2012 there most likely will be no big splashes like “Barclays” or “Western Union”, unemployment should be decreasing steadily. In addition, some major projects are being planned in coming years: arrival of “IKEA” in 2013 and development of Ignalina power plant in 2015.

These propositions were presented at the EBN’s breakfast meeting, which was held at the Estonian Embassy on February 29. The assembled audience was introduced to the whole overlook of Lithuanian labor market dynamics and its impact on investors and job seekers.

Mr. Al Kris presented his comprehension of Lithuania’s infrastructure, which was condensed to communications, banks, government and universities. “The biggest problem in infrastructure is energy”, said A. Kris.

A big part of his speech was about the trends in higher education. According to A. Kris, there are too many law students and less humanitarians, and this is creating a tension in labor market.

Youth unemployment in Lithuania today is 31,7 percent, the overall is 13,9. When compared to the European Union average – 22 percent (youth) and 10 percent (overall), it might not seem like an ultimate disaster, but if the trend keeps on there might be very harsh consequences in the future.

When asked how this issue could be solved A. Kris did not give an unexpected answer: “A lot of people are discussing about this, but a definite solution is still not clear”. For now internship programs, incentives from government in taxes are making a small progress, which is small, but hopeful.

EBN reporter Edgaras Savickas