Tuesday, May 13, 2008

NBS governor Sramko warns on labour market risk for economic growth.

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NBS governor Sramko warns on labour market risk for economic growth. Developments on the labour market presented a significant risk for the future economic growth, National Bank of Slovakia (NBS) governor Ivan Sramko pointed out. He explained that these risks stemmed from apparent mismatches between labour supply and demand. As a result, the unemployment level still remained relatively high and its structure was markedly unfavourable with a high share of long-term unemployed. At the same time, demand for labour remained strong and appeared to exceed available supply as indicated in surveys of various sectors, especially construction. PM Robert Fico also acknowledged the problem and underlined that the government would take measures to address it in the short term. In particular, he pointed out that the cabinet would focus on aligning the supply of education services in order to produce people with qualification most demanded on the market.

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NBS governor Sramko warns on labour market risk for economic growth.

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