The unemployment rate was the lowest in two and a half years, dropping below 6% for the first time

The number of people outside labour force decreased by more than 12 000 year-on-year, below the threshold of 158 000. The number of long-term unemployed continued to decrease, and the number of short-term unemployed also started to decrease again. The number of people in the category with primary education has decreased significantly. The total number of the unemployed decreased in five SR regions.

The number of the people outside labour force according to the Labor Force Survey (LFS)¹⁾ during the 2^nd quarter of 2023 decreased by 7.1% year-on-year and reached 157.8 thousand persons. Thus the year-on-year declines in the number of unemployed continue for the eighth consecutive quarter.

The unemployment rate indicating the share of unemployed among economically active persons was 5.7%, year-on-year it decreased by 0.4 percentage points (p.p.).

After seasonal adjustment, the number of the unemployed²⁾ decreased by 5.3% to 159.8 thousand persons compared to the previous quarter.

The majority of the unemployed, over 105 000 people, was represented by people who were unemployed for one year or more. Their share among the unemployed exceeded 66%, despite the fact that the year-on-year decline has continued for four consecutive quarters and the number of long-term unemployed dropped by 5.1% before the summer. Short-term unemployment decreased even more significantly year-on-year, by 11% to 52.5 thousand persons, these are people who were out of work for less than 12 months.

The decrease of the unemployed was manifested in all age groups, except for the lowest age category of the 15-24 years old, in which the growth was minimal. From the perspective of education, the most significant decrease in the number of the unemployed by 25.4% (by 13.4 thousand persons) was in the category with primary education.

In total, in 12 out of 16 economic activities of the last employer, there was a year-on-year decrease in the number of the unemployed people. Most people worked in industry last time, but the number of unemployed decreased by 5.1% year-on-year. The second largest group consisted of people most recently working in wholesale and retail trade, with a decrease by 14.2%. The specific and the most numerous group was represented by persons who did not yet have a job. Their number decreased only minimally in the 2nd quarter of 2023, and they still represented more than 30% of the total number of the unemployed.

From a regional point of view, the number of unemployed in the 2nd quarter of 2023 decreased year-on-year in 5 out of 8 regions of Slovakia. Relatively the largest number of the unemployed decreased in Nitriansky kraj (by 18%) and in Trenčiansky kraj (by 17.5%). The largest number of the unemployed continued to be in Prešovský kraj  (almost 40 000 people) and Košický kraj (more than 38 000 people).

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The highest unemployment rate remained in Prešovský and Košický kraj, these were the only ones reaching the 10% mark. The opposite development was recorded in Bratislavský kraj with an unemployment rate of 2.1%, followed by Trenčiansky kraj with 2.8%. From the point of view of the dynamics of development, the most significant change occurred in Prešovský kraj, where the unemployment rate decreased by 1.5 p.p. A decrease in the unemployment rate was recorded in 5 regions, in Bratislavský kraj it remained at the same level as a year ago.

Unemployment in the first half of 2023

During the first half of 2023, the number of people outside labour force decreased by 5% year-on-year and the number of the unemployed reached 163.8 thousand people. The unemployment rate in the SR decreased by 0.3 p.p. to 5.9%. The total number of the unemployed according to the economic activity of the last employer decreased most significantly in transport, wholesale and retail trade, as well as in the health sector. The number of people without work experience also decreased year-on-year, but still every third unemployed person has never had a job.