As expected, there was no change in the unemployment rate in August. The seasonal factors are roughly neutral during summer. The number of the newly registered unemployed was somewhat lower compared with July and so was the number of people who found a job.
The number of vacancies has increased and shows a slightly positive trend this year. The economic activity is expected slightly better in the 3Q compared with the previous quarter, but it will not be enough to improve significantly the conditions on the labor market. Thus, we do not expect any major change in the trend of unemployment except for some seasonal decrease in the next few months. On average, the unemployment rate should be at 8.5 pct. this year.
Unemployment rate (Aug): 8.3%
Previous (Jul): 8.3%