Analysts: labor market is facing a difficult quarter

By: Trademagazin editor Date: 2021. 03. 02. 11:20

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Until the end of last year, the labor market still persisted against the second wave of the pandemic, but in the first quarter of this year promises will be difficult. Government subsidies will not be able to maintain the number of employees in line with normal business in the long run, analysts who commented on the January employment and unemployment data told MTI.

According to reports from the Central Statistical Office (KSH), the average monthly headcount decreased by 97,000 in January compared to the previous month and by 55,000 compared to January last year, partly as a result of the pandemic and partly due to seasonal effects. The number of unemployed increased by 38 thousand compared to December and by 54 thousand compared to January last year. The unemployment rate rose to 5.0 percent. From 1 January, the KSH changed the methodology in accordance with international regulations. (MTI)