Slovakia's jobless rate edges down to 13.28% in March 2014

By bne IntelliNews April 22, 2014

Slovakia's unemployment rate edged down to 13.28% in March 2014 from 13.49% the month before, data from the Centre for Labour, Social Affairs and Family showed. In March 2013 the jobless rate stood at 14.68%.

The number of unemployed Slovaks ready to take up a job immediately fell to 358,285 in March from 364,099 in the previous month.

IntelliNews comment: Slovakia's jobless rate is falling for the second month in a row, but remains one of the highest in Europe. Boosting employment is one of the government's top priorities as it plans to introduce financial incentives for employers in order to reduce the long-term and youth unemployment. According to local analysts the jobless rate should stabilise and slightly decrease in 2014 supported by stronger economic activity. The GDP is forecasted to grow by between 2% and 2.3% this year from an estimated 0.9% in 2013. The government expects the unemployment rate to fall to 13.2% in 2015 from 14% estimated for 2014. The rate should continue retreating to 12.3% and to 11.3% in the next two years.

High jobless rates have troubled the nation of 5.4 million since the global economic crisis hit its export-driven economy, fuelled by auto and electronics production, at the end of 2008. Before that, unemployment hit a record low of 7.36% in August 2008.

Related Articles

RBI doubles net profit y/y in Q1 as Russian business recovers

Raiffeisen Bank International (RBI), the second largest bank operating across Central and Eastern Europe by assets, reported that net profit almost doubled year-on-year to €220mn in the first ... more

Poland secures key permit for gas link with Slovakia

Polish state-owned gas grid operator Gaz-System has secured an environmental permit for the construction of a gas pipeline that will be part of a planned gas link with Slovakia, Gaz-System announced ... more

Labour shortage taking on crisis proportions, warns Slovak PM

The growing labour shortage bears the hallmarks of a crisis, Slovak Prime Minister Robert Fico said on April 4. While keen to boast of the health of the economy under his continued watch, Fico was ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Dismiss