Employment stopped increasing in the fall, though there was only a slight decline and it was reflected in half of the SR's regions
The number of employees decreased year-on-year in only 8 out of the 18 monitored sectors of the economy, but the overall negative result was due to the decrease of employees in several sectors that employ the most people. Among the manufacturing sectors, employment decreased mainly in industry, from the service sector mainly in education and information and communication.
In the third quarter of 2023, almost 2 611 000 people worked in the Slovak labor market according to the Labor Force Survey (LFS)1). The number of employees2) decreased slightly year-on-year by 5.1 thousand persons, thus employment decreased by 0.2%.
Total employment decreased by 0.4% quarter-on-quarter (compared to the previous quarter) after seasonal adjustment to the level of 2 600 000 employed persons.
The employment rate3), which expresses the share of the employed persons from the total population, increased year-on-year by 0.4 percentage points (p.p.) to 77.4%.
A higher number of employees was recorded by the majority, namely 10 of the 18 monitored sectors of the economy, but employment in the SR decreased. The continuous decline in the number of employees in manufacturing sectors, influenced by the decrease of employees mainly in industry, exceeded the growth of employment in services. The number of employees in services increased by more than 15 000. On the contrary, in the manufacturing sectors the number of employees decreased by almost 21 000 people, while in industry it dropped by 23 200 people (a decrease of 3.4%).
In the 3rd quarter of 2023, services recorded year-on-year an employment growth by 0.9%, the number of employees in service industries increased for the seventh consecutive quarter. Currently, almost 1 633 000 people were employed in them, which was 62.5% of the total number of employees. The ongoing positive situation in services was mainly influenced by the higher number of employees in wholesale and retail trade by 5.2% (by 16.7 thousand persons), as well as in accommodation and food services by 12.4% (by 11.4 thousand persons). However, there was a more significant year-on-year decrease in information and communication by 14.9% (by 16.3 thousand persons) and in education by 6.5% (by 14.4 thousand persons).
From a regional perspective, during the 3rd quarter of 2023, the number of employees decreased year-on-year in half of the 8 SR regions. The number of employees decreased the most in Košický kraj by 11 000 people (a drop by 2.5%). In total, there was a lower number of employees by 19.1 thousand in 4 regions. In Prešovský kraj, the employment situation remained identical as a year ago. To a greater extent, the number of employees increased only in Nitriansky kraj by almost 7.8 thousand and in Žilinský kraj by almost 5 thousand. A more modest growth was recorded in Žilinský kraj. In Bratislavský kraj, the number of employees increased only minimally.
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Bratislavský kraj recorded the highest employment rate by 85.7%, and it continues to be the only one of all SR regions maintaining the highest employment rate around the level of 85%. The employment rate reached just over 80% even in Žilinský kraj. The most significant positive change occurred in Nitriansky kraj, employment increased by 3 p.p. and reached just below the level of 80%. On the contrary, the most significant negative change occurred in Košický kraj, the employment rate decreased by 1.4% year-on-year and dropped to 70.9%. After a long time, Košický kraj replaced Prešovský kraj in the ranking of the lowest employment rate in the SR.
In the third quarter of 2023, more than 114 000 Slovak citizens travelled for work abroad4), which was by 8% less than in the corresponding period a year ago. They worked mainly in construction, industry and health care and social assistance.
A substantial majority of those who worked or commuted abroad for work were from Prešovský kraj (almost 30 000 people), Košický kraj (more than 20 000 people) and Žilinský kraj (more than 18 000 people). The year-on-year increase was recorded in Košický kraj by 28.3% and in Prešovský kraj by 18%. In the other six regions of Slovakia, the number of people working abroad decreased.
Employment in the 1st to 3rd quarter of 2023
In total, for the first nine months of 2023, the number of employees rose by 0.1% to nearly 2 600 000 people. In total, out of 18 monitored sectors of the economy, the number of the employed increased in 10. Compared to the corresponding period last year, the largest number of employees increased in wholesale and retail trade (almost 18 000) and in financial and insurance activities (over 13 000) and in health care (almost 13 thousand).
Year-on-year, the number of employees increased in half of the 8 regions of Slovakia, most significantly in Bratislavský kraj by 2.6%. The most significant cumulative decrease for the 1st to 3rd quarter of 2023 was recorded by Trnavský kraj, where the number of employees decreased by 2%.
The employment rate for the first nine months of 2023 increased by 0.7 p.p. to the current 77.4%. The most dynamic change in the employment rate since the beginning of the year occurred in Prešovský kraj, where a growth by 1.8 p.p. was recorded.
Compared to the first three quarters of 2022, the number of persons working abroad for up to 1 year decreased by 0.3% to 115.7 thousand people.
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