Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

Slovakia’s productivity highest in V4

ALTHOUGH industrial production in Slovakia has been growing since the end of the 2008-09 economic crisis, companies based in the country have not yet hired as many employees as they earlier dismissed. This has resulted in Slovakia having the highest unemployment rate among the Visegrad Group (V4) countries, according to UniCredit Bank analyst, Dávid Dereník. However, it also has the highest labour productivity in the V4 – a group which also includes the Czech Republic, Hungary and Poland – the TASR newswire reported.

ALTHOUGH industrial production in Slovakia has been growing since the end of the 2008-09 economic crisis, companies based in the country have not yet hired as many employees as they earlier dismissed. This has resulted in Slovakia having the highest unemployment rate among the Visegrad Group (V4) countries, according to UniCredit Bank analyst, Dávid Dereník. However, it also has the highest labour productivity in the V4 – a group which also includes the Czech Republic, Hungary and Poland – the TASR newswire reported.

“We produce more, but with a lower employment rate, so labour productivity has significantly increased,” Dereník said, as quoted by TASR, adding that the largest numbers of people were laid off in the textile and wood industries and in the production of electronics.

“When it comes to productivity, we produce up to 79 percent of what an average EU citizen does, but if our unemployment rate equalled that of Austria, our current productivity would not be enough to reach their living standards,” he added.

Luboš Sirota from the recruitment agency Trenkwalder said that the situation in unemployment does not look good.

“In comparison with global economies this evaluation seems very negative,” he said, as quoted by TASR.
Sirota said he believes that if the crisis affects the automobile industry, the impact on the economy and its unemployment rate will be damaging for Slovakia.

Top stories

Slovakia remains unknown in convention business

Ten MICE events in 2017 should bring almost €6.5 million to Bratislava.

The GLOBSEC security forum is one of the regular MICE events in Slovakia since 2005.

Kotleba should be defeated in election, not banned

More constitutional can be less democratic, and it is not clear that it always has the intended result. Perhaps the clearest historical case came with the rise of the Nazis in Germany.

Marian Kotleba

Slovakia to leave NATO is a hoax

The Slovak Spectator brings you a selection of hoaxes that appeared over the past week.

Some peple gathered at Slavin in Bratislava brought ani-NATO banners.

Fico: We cannot allow multi-speed EU to become divisive Video

Final session of the 12th edition of Globsec 2017 featured Slovak PM Robert Fico, Czech PM Bohuslav Sobotka, and President of the European Council, Donald Tusk, in a panel entitled European (Dis)Union?

Donald Tusk, Robert Fico, and Bohuslav Sobotka (left to right)