Labor market cools down

In June, unemployment posted its sharpest increase since April 2021, the influx of foreign workers slowed down and the number of unemployed people securing jobs dropped, according to an NBS report. In 1H, job offers listed on the Profesia.sk portal declined by 15%. The trend was visible across most sectors and regions, with notable weaknesses in the Trenčín, Žilina, and Bratislava regions, and in insurance, textiles, and mining. The key automotive industry also recorded a steep decline of 25%. The slump reflected broader economic deceleration and heightened geopolitical tensions.

(trend.sk)