Slovenia’s unemployment rate down to October 2010 level as recovery continues

Slovenia’s unemployment rate down to October 2010 level as recovery continues
By Ivana Jovanovic in Belgrade August 17, 2016

The registered unemployment rate in Slovenia stood at 10.8% in June. A similar rate was recorded in October 2010, the last time the number of registered unemployed was below 100,000, the statistical office reported on August 16.

The fall in Slovenia’s employment rate has gone hand in hand with the country’s economic recovery. Slovenia’s GDP grew 2.5% y/y in the first quarter of 2016, following real annual growth of 2.9% in 2015, thanks mainly to stronger domestic demand.

Slovenia’s central bank, Banka Slovenije, expects the unemployment rate to keep decelerating in 2016 and to reach 8.6% by the end of the year, then fall further to 8% in 2017 and 7.4% in 2018. Meanwhile, GDP is forecast to grow 1.9% in 2016 and to accelerate to 2.5% in 2017, Banka Slovenije said on June 7 in its latest macroeconomic outlook report.

In June, the Slovenian jobless rate decreased by 0.3pp against May when it went down by 0.4pp from April, following a declines in February and March.

The number of employed people in Slovenia in June increased by 0.3% m/m or to around 820,000. In May, the number increased to around 817,600 from 813,900 in April.

In sixth month of the year, compared to the previous month, the number of men in employment increased by 0.3% m/m to around 448,700. The number of women in employment also increased, by 0.2% m/m to around 371,300.

Compared to June 2015, the number of women in employment increased by 2.6% while the number of men in employment went up by 0.8%.

The average registered unemployment rate in the first half of 2016 amounted to 11.8%. In the first half of 2010, it stood at 10.6%. The last time the registered unemployment rate fell below this level was in September 2010, when it stood at 10.5%.

Related Articles

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Czech-based CME divests Croatian Nova TV and Slovenian Pop TV for €230mn

Czech Republic-based broadcaster Central European Media Enterprises (CME) on July 10 announced the divestiture of its leading Croatian and Slovenian TV stations to United Group's Slovenia Broadband ... more

Sberbank acquires 18.53% stake in Slovenian Mercator

Russia’s Sberbank acquired a 18.53% stake in Slovenian retailer Mercator, a subsidiary of Croatia’s Agrokor, at the asking price of €40.58mn at an auction on July 7, Slovenian Press Agency ... more