Downward trend of unemployment in Slovakia continued in 2018

Downward trend of unemployment in Slovakia continued in 2018
Slovak unemployment falls to 6.1% in 4Q18 and 6.6% in 2018
By bne IntelliNews March 11, 2019

Unemployment in Slovakia continued falling in 2018, down by 19.9% year-on-year to 179,500 persons in the whole 2018 and down by 21.5% y/y to 167,100 persons in 4Q18, where the unemployment rate dropped to 6.1% in 4Q18 and 6.6% in 2018, the Slovak Statistics Office reported on March 7.

“Decrease was coincident in both genders by 1.7pp, men by 5.5% and women by 6.7%. In quarter-on-quarter comparison (the 4Q18 compared with the 3Q18), the seasonally adjusted unemployment decreased by 11,400 (by 6.5%) to 163,000 persons,” the office reported.

In terms of age, the largest group of the unemployed people was recorded at the age between 35-49 (with the share of 33%, 55,100 persons). There were 24.3% of people who had never had a job, down by 3.1pp y/y.

In terms of regional unemployment, it decreased in all regions y/y in 4Q18, most in Presovsky kraj (by 10,100). Despite this fact, the highest number of the unemployed (39,200 persons) and also the highest regional unemployment rate (9.7%) was recorded in this region. In other regions, the unemployment rate ranged from 2.2% in Bratislavsky kraj to 9.6% in Kosicky kraj,” the office added.

The average nominal monthly salary in Slovakia reached €1,013 in 2018, passing the €1,000 mark for the first time ever. The average nominal monthly salary increased by 6.2% y/y, the real monthly salary grew by 3.6%.