The unemployment rate in Slovakia decreased to 4.92 percent in November of 2019 from 5.09 percent in the same month last year and slightly above market expectations of 4.89 percent. It was the lowest jobless rate since May, as the number of unemployed fell by 7,020 from a year earlier to 135.5 thousand. A month ago, the jobless rate was 4.94 percent. Unemployment Rate in Slovakia averaged 12.28 percent from 1994 until 2019, reaching an all time high of 19.79 percent in January of 2001 and a record low of 4.88 percent in May of 2019.
Unemployment Rate in Slovakia is expected to be 4.70 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 4.70 in 12 months time. In the long-term, the Slovakia Unemployment Rate is projected to trend around 4.50 percent in 2020, according to our econometric models.