Unemployment up in September

SLOVAKIA’s unemployment rate in September grew by 0.14 percentage points month-on-month and by 0.40 percentage points year-on-year to stand at 13.84 percent, the Labour, Social Affairs and the Family Centre (ÚPSVaR) announced, as reported by the TASR newswire.

SLOVAKIA’s unemployment rate in September grew by 0.14 percentage points month-on-month and by 0.40 percentage points year-on-year to stand at 13.84 percent, the Labour, Social Affairs and the Family Centre (ÚPSVaR) announced, as reported by the TASR newswire.

The increase in unemployment in September was related mainly to an influx of fresh school-leavers registering at labour offices and the end of seasonal work. A total of 12,810 secondary-school graduates registered at labour offices in September, while only 807 did so in August.

The unemployment rate calculated from the total number of job seekers in September grew by 0.16 percentage points month-on-month, to reach 15.06 percent.

The number of unemployed people in September increased by 4,285 month-on-month to 406,498. Compared to September 2012, the number of unemployed increased by 3,980, or by 0.99 percentage points.

Unemployment went up in September in most regions, with only Nitra Region seeing a drop. Prešov Region had the highest overall unemployment rate at 19.81 percent.

"New school-leavers raised the rate by 0.50 percentage points. Having said that, the number of new school-leavers [registering at job centres] was lower than in the 2009-11 period," said UniCredit Bank analyst Ľubomír Koršňák.

According to analysts, seasonal vacancies too have a sizeable effect.

"As there's a lack of growth-promoting incentives, the 'seasonality' is a decisive factor that influences developments in unemployment," said McROY Group chief Ľuboš Sirota.

"The demand for seasonal workers continues to be seen only in some sectors, such as agriculture and construction, where there are enough jobs even at the close of the summer and in the autumn. However, we won't see a sizeable cut in unemployment this year. October may see a slight improvement as the market will come to grips with the inflow of new jobseekers, but then the seasonal effect will be in full force and unemployment will rise," predicts Michal Kozub, an analyst with Home Credit.

Source: TASR

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

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