Unemployment in Slovakia not growing in January

Surprisingly, the unemployment rate in Slovakia did not rise in January 2017 compared to December last year. According to data from UniCredit Bank Czech Republic and Slovakia it sat at 8.6%, which is the lowest level since December 2008, when the financial crisis broke out. As the bank's analyst Ľubomír Koršňák explained, the unemployment rate usually grows at the beginning of each year due to decreased activity in construction and agriculture. Thus, the situation from January 2016 repeated, occurring only for the second time in history with data being available since 1998. Koršňák expects the economy to produce new jobs even in the coming months. However he adds, that what stands in the way of an even faster decline of unemployment is not a lack of vacancies, but rather the skill set of the unemployed.