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Slovakia: Labor Market Puts Pressure on Household Income
The downturn in employment and weak wage developments are putting downward pressure on sales and indicate that the slump in household final consumption will continue.
Slovakia: Labor Market Puts Pressure on Household Income / Picture: © Wikimedia Commons [CC0 1.0] / Pixabay [CC0 Creative Commons]
Employment in November fell month-on-month by 0.8%, which translated into a year-on-year drop of 0.4%. This confirms that firms have begun laying off staff in response to declines in industrial production and sales in recent months, although redundancies are not being made on the scale seen, for example, in the wake of the 2008 economic crisis. If it turns out that firms, in…
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