Slovakia Unit Labour Costs - Forecast

Labour Costs in Slovakia is expected to be 106.19 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in Slovakia to stand at 115.03 in 12 months time. In the long-term, the Slovakia Unit Labour Costs is projected to trend around 125.83 Index Points in 2020, according to our econometric models.


Slovakia Unit Labour Costs
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Slovakia Labour Last Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 5.4 5.5 5.4 5.4 5.2 5.1
Employed Persons 2543 2560 2558 2559 2564 2571
Unemployed Persons 149727 146357 140637 137958 134661 122663
Labor Force Participation Rate 92.9 93.6 93.85 94.13 94.56 95.36
Long Term Unemployment Rate 4.4 3.92 3.86 3.63 3.51 3.07
Youth Unemployment Rate 17.9 18.19 18.25 18.29 18.3 18.31
Labour Costs 115 106 120 119 115 126
Productivity 109 114 114 114 114 114
Wages 1138 1060 1140 1110 1074 1220
Wages in Manufacturing 1128 1045 1100 1060 1073 1170
Minimum Wages 480 480 480 525 517 560
Population 5.44 5.45 5.44 5.44 5.44 5.45
Retirement Age Women 62.42 62.42 62.42 62.67 63 63
Retirement Age Men 62.42 62.42 62.42 62.67 63 63
Living Wage Family 630 650 650 685 625 685
Living Wage Individual 445 442 441 442 442 443
Part Time Employment 142 146 147 148 149 159
Wage Growth 4.1 3.78 3.8 3.58 3.57 3.3
Wages Low Skilled 610 660 660 660 763 680
Wages High Skilled 1390 1440 1440 1440 1830 1500
Employment Change 0.4 0.24 0.2 0.2 0.21 0.26
Employment Rate 67.1 67.56 67.51 67.94 68.08 68.51
Full Time Employment 2372 2378 2379 2380 2382 2383