Unemployment in Slovakia

Slovakia Unemployment | Economic News & Forecasts

Slovakia - Unemployment

GDP growth improved in the first quarter of this year. The acceleration was spearheaded by stronger domestic demand: Eased Covid-19 restrictions pushed up average annual retail sales growth to 16.0% in Q1 from 2.4% in Q4, pointing to healthier private spending growth. Less positively, the external sector weakened in Q1, weighing on the overall result. Turning to Q2, available data paints a mixed picture. Both business and consumer confidence improved in April, suggesting that private sector was broadly resilient to a slowing global economy and supply bottlenecks arising from the war in Ukraine and lockdowns in China. That said, inflation shot up to a record high in April and will likely remain at all-time highs in the coming months, in turn hurting household consumption in Q2. Meanwhile, on 23 May, S&P Global Ratings slashed the outlook of Slovakia’s A+ rating from stable to negative.

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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