The proportion of available job-seekers of productive age in Slovakia fell below 4 percent for the first time in May 2023, amounting to 3.9 percent, the Labour, Social Affairs and the Family Centre (UPSVR) reported on Tuesday.
The unemployment rate measured by this indicator thus fell for the fourth month in a row in May.
"The downward trend continues despite an increase in the number of university graduates signing on at labour offices this year. The drop in unemployment can partly be ascribed to changes in the field of activation work," stated UPSVR.
The proportion of available job-seekers of productive age, which has been the most important indicator for the Labour Ministry since January, declined by 0.18 percentage points (p.p.) from April and by 0.76 p.p. year-on-year (y-o-y). In May the indicator hit its lowest point since January 2021, when the ministry began monitoring it.
The secondary indicator, the registered unemployment rate, reached 5.10 percent in May, indicating that the situation on the labour market has returned to the one seen before the pandemic. It amounted to 5.05 percent in February 2020.
Source: TASR
