Increase in unemployment rate is worse than during financial crisis

Observers predict the number of jobless to keep increasing in coming months.

Illustrative stock photoIllustrative stock photo (Source: TASR)

The monthly increase in the total number of unemployed people in April has been the highest in the country’s history.

Explore Slovak labour market and human resource trends (for more details visit Slovak labour market and human resource trends (for more details visit

This stems from a comment released by the analysts of the National Bank of Slovakia (NBS), which commented on the recent jobless numbers.

The registered unemployment rate in April achieved 6.57 percent, up 1.38 percentage points month-on-month and 1.67 percentage points year-on-year. The labour offices registered altogether 180,756 people ready to take a job immediately.

As for the total unemployment rate, it amounted to 7.43 percent, which was 1.22 percentage points more than in March and by 1.38 percentage points more than in April 2019, according to the data from the Central Office of Labour, Social Affairs and Family (ÚPSVaR).

NBS analysts consider the increase worse than the worst months of 2009 when the country struggled with the financial crisis.

“However, thanks to the higher recruitment of staff in the past years the unemployment rate is still quite low, while the maximum from 2013 was nearly 16 percent,” they said, as quoted by the SITA newswire.

More layoffs and fewer vacancies

Related articleGDP drops as expected, next quarter will be worse Read more 

Ľubomír Koršňák, analyst of UniCredit Bank Czech Republic and Slovakia, was surprised by the April increase in the number of jobless, admitting that they originally expected the growth to be more significant in May and June, due to the planned layoffs.

“The earlier increase might have been caused by a higher inflow of self-employed or temporary workers whose employment contracts are more flexible, and there are more possibilities of terminating work by agreement (so there is no notice period),” he wrote in a memo.

The rest of this article is premium content at
Subscribe now for full access

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on
  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)
  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you
  • Access to all premium content on and

Get daily Slovak news directly to your inbox

Top stories

Special shopping hours for older people will be scrapped.

Special shopping hours end, some isolation rules change

The country switches to the light red tier on national level from next Monday.

5 h
Finance Minister Igor Matovič introducing the tax and levy reform.

Matovič introduces tax reform

It will be based on three pillars: fair taxes, a single tax and single levy and benefits of €200 per child.

22 h
Speaker of Parliament Boris Kollár, President Zuzana Čaputová and Prime Minister Eduard Heger, from left after signing the a letter accompanying Slovakia’s recovery plan.

Slovakia sent its 600-page plan to Brussels on becoming a better country

Only the next government will harvest the fruits of the planned reforms.

6. máj
Leatherworker Ondrej Sabela in his workshop.

Near rock bottom, artisans in Slovakia pray for a better season

The pandemic has forced some to find new jobs, leaving their trades behind.

6. máj