Unemployment in Slovakia

Slovakia Unemployment | Economic News & Forecasts

Slovakia - Unemployment

Available data points to a gradual recovery in Q3, following the unprecedented GDP drop in Q2. In August, the decline in industrial production softened for the fifth consecutive month, while merchandise exports rose at the strongest pace in over a year. Additionally, goods imports dropped at a softer pace in the same month, while retail sales rebounded in July–August, largely due to increased sales of electronics and recreational goods. This, coupled with consumers turning less pessimistic on average in Q3 compared to Q2, bodes well for household consumption. Nonetheless, a surge in Covid-19 cases prompted the reinstatement of the state of emergency on 1 October, which could lead to new restrictions and thus hamper activity in Q4. Lastly, on 14 October, the government approved its 2021 draft budget, based on a 5.5% growth forecast and envisioning a fiscal deficit of 7.4% of GDP.

Slovakia - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate11.5  9.7  8.1  6.5  5.8  

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Slovakia Unemployment Chart

Slovakia Unemployment
Note: Unemployment in % of active population.
Source: Slovakia Statistical Office (SOSR).

Slovakia Facts

Value Change Date
Bond Yield0.13-4.12 %Dec 31
Exchange Rate1.120.65 %Dec 31

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