Sat, May 26 2012

Slovakia's spring won't thaw jobless rate

Wed, Mar 03 2010 10:23 CET

byBeata Balogová - The Slovak Spectator

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Slovakia's spring won't thaw jobless rate

January's jobless figures have only confirmed that the instincts of those market watchers who advised Slovaks to keep their optimism – somewhat kindled by improving GDP figures – under check were correct as the recent reports on labour market developments were quite dismal.

Observers say that the icy unemployment rate that stood at 12.89 percent in January 2010, an increase of 0.23 percentage points from the previous month, will not begin to thaw by spring. And though the summer months might warm up the labour market, it may be a couple of years before Slovakia gets back to its pre-crisis unemployment rate of just over 7 per cent.

Slovakia’s labour offices registered 346,379 jobless people ready to take up jobs immediately in late January, up 10 889 month-on-month.

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