Slovakia: Unemployment rate at 7,2 % in Q3 2020

The corona crisis increased the unemployment rate in Slovakia to 7,2 %, leaving almost 200,000 thousand people without work.

A growth rate of the unemployment accelerated in the third quarter, the Statistical Office of the Slovak Republic reports.

The number of unemployed persons reached 196,5 thousand persons and was higher by 21,9 % year-on-year, which represents 35,3 thousand persons.

The unemployment rate increased by 1,3 p.p. to 7,2 % year-on-year. It thus grew for the third consecutive quarter and reached the level of the turn of 2017 and 2018.

In a quarter-on-quarter comparison (3rd quarter of 2020 compared to the 2nd quarter of 2020), seasonally adjusted unemployment increased by 10,6 thousand persons, which represents an increase of 5,9 % to 190,7 thousand persons.

As a result of the corona crisis, the short-term unemployment rose

The number of unemployed within six months reached 96,1 thousand, which means that every second person without work has become unemployed in the last six months.

The share of this group in the total number of unemployed increased to 48,9 %, a year ago it was less than a third.

Unemployment increased the most in the two most numerous age groups of unemployed, namely in the group of 35-49 years old by 34,7% and among young people 25-34 years old by 29 %.

Number of unemployed decreased slightly in 55-59 years old and in 50-54 years old, year-on-year.

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