The unemployment rate in Slovakia decreased to 5.1 percent in November of 2018 from 5.2 percent in the previous month, in line with market expectations and compared with 6 percent in the corresponding month of the previous year. It was the lowest jobless rate since series began in March of 1994. The number of unemployed persons declined by 3,812 to 139.5 thousand in November from 143.3 thousand in the previous month. Compared with the previous year, unemployment fell by 22,560 from 162 thousand. Unemployment Rate in Slovakia averaged 12.60 percent from 1994 until 2018, reaching an all time high of 19.79 percent in January of 2001 and a record low of 5.10 percent in November of 2018.
Unemployment Rate in Slovakia is expected to be 5.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Slovakia to stand at 5.20 in 12 months time. In the long-term, the Slovakia Unemployment Rate is projected to trend around 5.10 percent in 2020, according to our econometric models.