Trends in Economic Growth and Unemployment in Slovakia

Abstract

This study deals with one of the current and relatively often discussed phenomenon, which accompanies economic and social development in both developed and economically struggling countries; the countries of Central and Eastern Europe being no exception from this pattern. The analysis of unemployment as an economic and social phenomenon and of the trends unemployment shows is conducted in relation to the period of stabilization and relative economic growth, which followed after the transformation of economic systems in countries of Central and Eastern Europe. The main objects of this analysis are primarily trends in the economic development, trends in the job creation, and the impact of direct foreign investments on the unemployments development. The economic development of Slovakia serves as a basis for an analysis of the main trends in economic development, the indicators of unemployment rate and their connection to migration of labour force abroad. We presume that the conditions of historical, economic and social development and the process of the integration of Slovak republic into European Union do not significantly differ from similar processes occurring in other countries of Central and Eastern Europe (or in regional integrations such as the Visegrad group or Baltic countries). This presumption allows us to extrapolate gained knowledge and apply it to the conditions present in other countries of Central and Eastern Europe. Index Terms - employment, economic development