Slovak Jobless Rate Highest Since March 2005

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Tuesday, Slovak National Labor Office announced that the jobless rate stood at 12.07% in July, up from 11.8% in June. This was the highest jobless rate since March 2005.

The number of unemployed persons totaled 319,937 in July, larger than the 313,076 in the previous month.

Slovakia's economy is projected to shrink by about 5% this year, and to return to growth by expanding close to 2% in 2010, the IMF said in a staff report on July 28. The lender forecasts the unemployment rate to increase to more than 12% by end-2009, and remain high through 2010.

Tuesday, Slovak National Labor Office announced that the jobless rate stood at 12.07% in July, up from 11.8% in June. This was the highest jobless rate since March 2005. (Market News Provided by RTTNews)