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Analysts: Employment Levels Will Improve, But Very Slowly
Sunday 24 Octtber 2010 Zoom in | Print page
Bratislava, October 24 (TASR) - Employment rates in Slovakia will only improve slowly, according to estimates made by analysts approached by TASR.
With this in mind, the year-on-year decrease in unemployment reported in October, the first since the end of 2008, is good news.
"I'm expecting a slight improvement in the situation on the labour market in the next few months. A considerable recovery isn't in the offing for now, however, and the improvement will probably only be sluggish," said Slovenska Sporitelna analyst Michal Musak.
According to Volksbank analyst Vladimir Vana, the Slovak labour market is slowly stabilising. The speed of job creation in Slovakia will depend on the inflow of new foreign investments in the near future, but also on an improvement in the business environment for small- and medium-sized businesses.
"It's especially the success of small- and medium-sized enterprises that in most cases accompanies a recovery in the sphere of creating new jobs; unlike giants, who can improve their performance by implementing new technologies and increasing labour productivity without the mass recruitment of new employees," Vano pointed out.
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