Slovak unemployment stayed just below 4% in July

Slovak unemployment stayed just below 4% in July

/ bne IntelliNews

By Albin Sybera August 21, 2023

Slovak unemployment was 3.98% in July, staying nearly identical to June when it reached 3.92%. It is the third month in a row when unemployment was below 4%.

In month-on-month terms, it is an increase of 0.06 percentage points, and compared to July 2021, it is a decrease of 0.62 p.p.

“The level of unemployment this year is nearing the historically lowest in post [communist] Slovakia, and it is nearing the level before the pandemic,” the state secretary of the Ministry of Labour, Family and Social Affairs Juraj Kacer commented.

Kacer also noted that “the labour market is in good condition” though job openings are growing “surpassing 80,000".

The long-term number of job applicants has decreased for over 12 months, dropping from 74,215 in January to 69,962 in July. “There were more than 96,000 job applicants two years ago,” general director of the labour office Karol Zimmer stated.

Analysts from the Institute of Social Policy noted that the m-o-m increase is seasonal, with the summer slowing down the drop-down among job applicants. In June, 16,022 job applicants obtained jobs, while it was 13,231 in July.

“August level should be comparable to the July one,” analysts noted, adding that secondary school graduates could increase the overall unemployment level in September.

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