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According to the audited annual report of the Estonian Unemployment Insurance Fund confirmed by the supervisory board on Tuesday, net assets of the fund stood at 469.4 million euros at the end of last year.
Of the total assets the fund for unemployment insurance payments made up 208.5 million euros and the fund for redundancy benefits and benefits in the event of insolvency of the employer 92.8 million euros. The value of the reserve was 37.1 million euros and undistributed yield 122.7 million euros, the Unemployment Insurance Fund said.
The fund earned 4.3 million euros of investment and interest income last year. The average yield was 1 percent.
Insurance premiums of employees totaled 137.1 million euros. The fund paid out 36.7 million euros in unemployment insurance benefits during the year.
Employers' contributions added up to 73.8 million euros and payouts from the fund for redundancy benefits and benefits in the event of insolvency of the employer made up 12 million euros. All told, unemployment insurance expenditures consisting of benefits and the social tax on the benefits amounted to 57.7 million euros.
The fund mediated more than 50,000 jobs last year, nearly half of all vacancies on offer in Estonia, CEO Meelis Paavel observed.
He said the number of jobless is likely to continue declining this year although probably at a slower rate than in previous years.