BUSINESS IN SHORT

Unemployment rises again

SLOVAKIA’S unemployment rate rose by 0.23 percentage points in September to reach 12.42 percent, the Labour, Social Affairs and Family Office (ÚPSVaR) informed the TASR newswire on October 19.

SLOVAKIA’S unemployment rate rose by 0.23 percentage points in September to reach 12.42 percent, the Labour, Social Affairs and Family Office (ÚPSVaR) informed the TASR newswire on October 19.


A total of 377,007 job-seekers were registered at job centres in September. Of this number, 333,841 were immediately available to start work. The figure was 6,734 higher than in August, and 3,981 more than a year earlier.

The average length of time that unemployed people were registered at labour offices reached 13.73 months in September, a year-on-year increase of 2.62 months.

UniCredit Bank analyst Dávid Dereník said in an interview with the SITA newswire that after taking into account seasonal influences, such as the regular inflow of secondary-school graduates into the labour market in September, the unemployment rate rose by only 0.05 percent.

He believes that the unemployment trend is linked to caution among businesses, whose outlooks are insecure at the moment.

“In the coming months we expect pressure to increase on the unemployment figures mainly through reduction of over-employment in the public administration as well as via regular seasonal year-end effects,” Dereník said, as quoted by SITA.


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