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Analyst: Unemployment Developing Better than Previously Expected
Saturday 17 April 2010 Zoom in | Print page
Bratislava, April 17 (TASR) - The number of unemployed people in Slovakia, after the seasonal adjustment, started to fall at the beginning of 2010, reaching about 13 percent (350,000 people).
Thus, the current development in the sphere of unemployment in Slovakia is slightly more optimistic comparing to the primary estimates at the beginning of the crisis, UniCredit Bank analyst David Derenik has told TASR.
"The rate was officially growing during the last three months, but January, February and March are usually connected with a seasonal growth of unemployment. When we remove the seasonal component, (we can see that) the unemployment started to fall in the first three months of the year," noted Derenik, adding that the drop of unemployment was officially expected in the half of 2010.
"There are companies hiring new employees again today, which causes that the seasonal influence isn't as (strong) as it was during previous years," he added.
According to Derenik, the steepest fall of unemployment is paradoxically seen in regions with traditionally highest unemployment rates, especially the east of Slovakia. The analyst explains this development by a fact that many people who came back from abroad due to the crisis are returning back beyond borders.
Derenik expects that the unemployment may continue to fall, but only slightly. This year should be a bit better than the previous one and the final figure describing unemployment may reach about 12.5 percent in December.
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