Slovakia's jobless rate stays at 13.5% in December 2013

By bne IntelliNews January 20, 2014

Slovakia's unemployment rate remained unchanged at 13.5% for the second straight month in December 2013, data from the Centre for Labour, Social Affairs and Family showed. In December 2012 the jobless rate stood at 14.44%.

The number of unemployed Slovaks ready to take up a job immediately slightly fell to 364,225 in December from 364,233 in the previous month.

IntelliNews comment: Slovakia’s unemployment rate remains one of the highest in Europe and affects negatively the country’s economic recovery. 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.

We expect economic growth this year to strengthen and support the creation of new jobs, which in turn may lead to a fall in the jobless rate.

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