BUSINESS BRIEFS

Unemployment falls to 14.85 percent

UNEMPLOYMENT in Slovakia fell under 15 percent in May 2003 for the first time in more than four years.

Statistics from the National Labour Office showed that 14.85 percent of Slovaks were unemployed last month.

Labour Minister Ľudovít Kaník said he was happy with the lower rate, attributing the drop to an improving economic environment and changes in the social sphere.

"Unemployment under 15 percent is not only a remarkable record but also shows that we are winning the ongoing fight to decrease unemployment in the country," said Labour Ministry spokesman Martin Danko.

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