NBS Analyst: Labour Market Cooling Down, It's Getting Harder to Find Job

Bratislava, 21 July (TASR) - The labour market continued to cool down gradually in June, which was reflected in the largest monthly increase in the number of the unemployed since April 2021, expert macroeconomics analyst at Slovakia's central bank (NBS) Michal Doliak pointed out on Monday, noting that in addition to a slightly higher unemployment rate, this turnaround was confirmed by a weakening inflow of foreign workers and a declining number of unemployed who have found a job. The analyst noted that the unemployment rate, calculated from the seasonally adjusted total number of unemployed, rose slightly to 5.9 percent in June, when the number of unemployed increased by 518 individuals. The largest increases were seen in the districts of Presov and Zilina, and in Bratislava. "Just like in May, the statistics were boosted by university graduates, while there were again more of them than last year. The slowdown in the labour market is also reflected in the weakening inflow of working foreigners, and their net inflow in June was the lowest in the past five months," added Doliak. According to him, the fact that it has been more difficult to find a job in recent months is confirmed by the decreasing number of unemployed who have managed to do so. am/df