The coronavirus may increase unemployment in following months

It may rise by two-digit numbers, analyst warns.

Illustrative stock photoIllustrative stock photo (Source: TASR)

The first month after several measures to fight the coronavirus pandemic in Slovakia has already resulted in the increase of jobless people.

The registered unemployment rate grew by 0.14 percentage point month-on-month to 5.19% in March 2020. In annual terms, it went up by 0.16 percentage point, according to the data of the Central Office for Labour, Social Affairs, and Family (ÚPSVaR).

Labour offices registered 142,993 people ready to apply for a job in March, up by 4,050 people compared to February and by 5,031 people compared to March 2019.

The total unemployment rate amounted to 6.21 percent in March, which represents 170,867 people, according to ÚPSVaR.

The increase was only slight, with various legislative measures and state aid to companies mitigating the increase of jobless people, according to Ľubomír Koršňák, analyst with UniCredit Bank Czech Republic and Slovakia.

Labour market frozen

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Theme: Economics

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