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BUSINESS IN SHORT

Jobless rate reaches six-year high

THE NUMBER of unemployed Slovaks grew in September and the country’s unemployment rate increased to 13.37 percent from the August rate of 13.13 percent. This unemployment rate is calculated based on unemployed persons who are immediately ready to accept work. If the rate is calculated including those who are on sick leave or living abroad, the unemployment rate would be 14.64 percent, the Central Office of Labour, Social Affairs and Family (ÚPSVAR) announced on October 20.

THE NUMBER of unemployed Slovaks grew in September and the country’s unemployment rate increased to 13.37 percent from the August rate of 13.13 percent. This unemployment rate is calculated based on unemployed persons who are immediately ready to accept work. If the rate is calculated including those who are on sick leave or living abroad, the unemployment rate would be 14.64 percent, the Central Office of Labour, Social Affairs and Family (ÚPSVAR) announced on October 20.

The unemployment rate is the highest in six years said David Dereník, an analyst with UniCredit bank, as reported by the TASR newswire. In September, district job centres in Slovakia registered more than 390,500 unemployed persons, including 34,025 school leavers.

The Sme daily wrote on October 21 that it appears that no positive change in the unemployment rate has been reflected in the first months during which the amended Labour Code has been in effect.

The Labour Ministry, led by Jozef Mihál from Freedom and Solidarity (SaS) party, stated that the amendment needs more time to help generate employment while Sme wrote that some labour market analysts commented that the recent amendment may have pushed the unemployment rate even higher.


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