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Jobless Rate Fell Again in November- to 12.22 percent
Monday 20 December 2010 Zoom in | Print page
Bratislava, December 20 (TASR) - The number of unemployed people in Slovkia continued to drop in November, by 0.07 percentage points on the month to 12.22 percent, following a contraction of 0.13 percentage points in October, the Labour, Social Affairs and the Family Centre (UPSVaR) announced on Monday.
A total of 374,281 job seekers were registered at job centres in November, with 328,345 immediately available for work.
According to ING Bank analyst Eduard Hagara, the slight fall in the jobless rate is most likely due to the hiring of new personnel in the private sector. "Export-oriented industry, which has capitalised on the unexpected strong economic revival in Germany, has seen more hiring than lay-offs over the past few months," said Hagara.
Although the trend in the private sector is expected to continue in the next few months, unemployment should rise by at least half a percentage point. This will be due to lay-offs in the public sector as well as the relatively low number of seasonal jobs available.
"However, as of the second quarter of 2011 positive trends should prevail and the unemployment rate should gradually fall to between 11.5-12 percent," he added.
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