Slovakia's Jobless Rate Jumps to 8-Year Hign on EU Crisis
Slovakia’s unemployment rate jumped to the highest since May 2004 amid Europe’s debt crisis.
Unemployment in November rose to 13.9 percent from 13.7 percent reported the previous month, the Slovak Center for Labor, Family and Social Affairs said today in Bratislava.
The Slovak central bank lowered its 2013 economic-growth forecast to 1.6 percent from 2 percent on Dec. 7, citing weakening exports and domestic demand. Even as the Slovak economy has been weathering Europe’s crisis better than its peers, the outlook remains uncertain, the central bank said. Unemployment in Slovakia, which adopted the euro in 2009, has failed to fall as companies streamline operations to remain competitive.
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