Slovakia´s unemployment rate decreased by 5.16% in February

Slovakia´s unemployment rate decreased by 5.16% in February
Slovak unemployment fell slight again to 5.16% in February y/y #bneChart
By bne IntelliNews March 22, 2019

Slovakia´s unemployment rate dropped to 5.16% in February 2019, down by 0.10 percentage points (pp) from January and by 0.56pp year-on-year, according to data published by the Labour, Social Affairs and the Family Centre on March 21.

The number of jobseekers immediately able to start work amounted to 141,432 in February, down by 2,798 individuals (by 1.94%) month-on-month and by 17,012 y/y (by 10.74%). The total number of jobseekers stood at 174,028 people. The unemployment rate calculated from the total number of jobseekers reached 6.35% in February, recording a drop by 0.07pp m/m and by 0.62pp y/y.

All regions recorded monthly deceleration in unemployment rates in February, with Kosice region posting the most significant decrease.

“Following stagnation in January 2019, February was traditional. We recorded a drop in unemployment while, on the other hand, employment increased,” stated the Labour, Social Affairs and the Family Minister Jan Richter (Smer-SD), adding that he anticipates the unemployment to continue falling until the end of the year, daily Hospodarke Noviny reporting.

“I believe in a decrease, but not as rapid as the one posted last year. It will be very difficult to meet employers' demands in some districts where unemployment is about 2%. We have to stress that in last five years the unemployment decreased by 151,000, which is a 70% drop. Measures we adopt already bear fruit,” he added.