Improved economy is visible on labour market

SLOVAK GDP grew by 0.6 percent over the previous quarter, according to he National Bank of Slovakia (NBS), but the positive trend is threatened by stagnation within Eurozone.

SLOVAK GDP grew by 0.6 percent over the previous quarter, according to he National Bank of Slovakia (NBS), but the positive trend is threatened by stagnation within Eurozone.

“The rate of economy growth has been above 0.5 percent threshold in last three quarters which seemed to be unreachable between the beginning of 2012 and third quarter of 2013,” said NBS analysts, as quoted by the TASR newswire on August 14.

The growth is mirrored even by the fact that employers are willing to hire new people, as there have been 11,000 more employed people in the second quarter.

“The employment rate in the second quarter accelerated and q-o-q increase of 11,000 employed persons could be compared just to the end of 2010 when the employment rate was recovering from the crisis,” says NBS report, as quoted by TASR. “The fact remains that while GDP exceeds pre-crisis level by more than 5 percent; employment is 2 percent below its pre-crisis peak.”

The NBS warned of stagnation in the eurozone, and weak German economic sentiments.

“Export of Slovak goods has been already affected by those tendencies,” said NBS analysts.

Compiled by Roman Cuprik from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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