Eesti in brief 2010-08-12

As of the end of June this year, the volume of the stabilization reserve at the market value was 4.9 billion kroons (297 million euros), reports National Broadcasting. In comparison to the first quarter of 2010, the market value of the reserves grew by 177.8 million kroons, or by nearly 3.7 percent. Due to payments made from the reserve, the market value of the reserves has in the year-on-year comparison fallen by 2.4 billion kroons, or by 33.1 percent. The stabilization reserve was created in 1997, with the amount of 701.6 million kroons. The reserve is a budgetary measure meant for relieving risks in the economy. The resources of the reserve are also used to guarantee the stability of financing structural reforms and investments bringing long-term gains to society, also for guaranteeing military preparedness or carrying out a mobilization.

According to the labor market statistics, 13 percent of all unemployed persons are those with higher education, whereas 28 percent only have secondary education, writes Postimees Online. In terms of higher education levels, persons with a Bachelor’s degree account for seven percent of the unemployed persons while three percent have either a Master’s degree or a doctorate, and three percent have applied higher education qualifications. Forty percent of the unemployed persons have vocational education. Seventeen percent have vocational education acquired on the basis of basic education. Minister of Social Affairs Hanno Pevkur commented that the statistics clearly indicate the unemployment structure. “There is a clear link between the education level and the unemployment rate; unqualified workers have the highest unemployment rate,” he pointed out. Sixteen percent of unemployed persons have basic education and two percent do not have even a basic education.

A recent survey carried out by Faktum & Ariko revealed that 52 percent of Estonian residents support the adoption of the euro, reports National Broadcasting. Among the Russian-speaking population, the support for the euro is only 32 percent. In comparison to a poll carried out in November 2009 with the same questions and choices and just as big a sample, the number of those who support the adoption of the euro has increased. Last autumn, the adoption of the European single currency was supported by 47 per cent of respondents and only 23 per cent of the Russian-speaking population. The survey indicated that the higher an individual’s income and level of education, the more they support the euro. The support for the single currency is also higher in major cities. Three quarters of nearly 500 respondents predicted that the adoption of the euro would bring an overall price increase. Hence, most of those who support the euro also predict an increase in prices. Eighty-nine percent of respondents feel that they have enough information on the adoption of the euro.