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Analysts: Unemployment Rate to Begin to Fall But Not Until Next Year
Sunday 29 November 2009 Zoom in | Print page
Bratislava, November 29 (TASR) - The unemployment rate in Slovakia may not drop until as late as the end of 2010, according to analysts approached by TASR on Sunday.
"The stabilisation and (subsequent) fall in the unemployment rate can be expected in late 2010 and early 2011, when the Slovak economy will be able to create new jobs thanks to increasing economic growth," said Postova Banka analyst Jana Mrvova.
Macroanalyst with UniCredit Bank Slovakia David Derenik was more optimist. He predicts the unemployment to continue to rise, but only moderately, with the turning point to be expected in mid-2010.
According to Mrvova, the unemployment rate will exceed 13 percent at the end of 2009.
Volksbank Slovakia chief analyst Vladimir Vano cited good geographic location of the country and the common European currency as the possible main stimuli that - when utilised - may cause an increase of employment. "This holds true only, however, if measures that would make life more difficult for entrepreneurs and thereby worsen the attractiveness of the investment environment in Slovakia are avoided," added Vano.
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