HOW RECESSION REFLECTS IN THE LABOUR MARKET INDICATORS

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1 REPUBLIC OF SLOVENIA HOW RECESSION REFLECTS IN THE LABOUR MARKET INDICATORS Matej Divjak, Irena Svetin, Darjan Petek, Miran Žavbi, Nuška Brnot

2 ??? What is recession?? Why in Europe???? Why in Slovenia?

3 In 2nd half of 2008 LFS labour market indicators were at their best values in several years the highest employment ratio in EU member states, The Netherlands in 4th quarter 2008, more than 65% the highest employment ratio in Slovenia in 3rd quarter 2008, more than 58% the lowest unemployment rate in EU member states, The Netherlands in 3rd quarter 2008, 2.5% the lowest unemployment rate in Slovenia in 3rd quarter 2008, 4.1%

4 Unemployment rates in EU member states, 1st quarter nd quarter ,0 18,0 16,0 14,0 12,0 10,0 8,0 6,0 4,0 2,0 0,0 2007Q Q Q Q Q Q Q Q Q Q02 EU27 BE BG CZ DK DE EE IE GR ES FR IT CY LV LT LU HU MT NL AT PL PT RO SI SK FI SE UK

5 Employment ratio in EU member states, 1st quarter nd quarter ,0 65,0 60,0 55,0 50,0 45,0 40,0 2007Q Q Q Q Q Q Q Q Q Q02 EU27 BE BG CZ DK DE EE IE GR ES FR IT CY LV LT LU HU MT NL AT PL PT RO SI SK FI SE UK

6 Persons in employment by status in employment, Slovenia, 1st quarter nd quarter /1 2007/2 2007/3 2007/4 2008/1 2008/2 2008/3 2008/4 2009/1 2009/2 730 Self-employed persons Persons in employment - other formes of work Unpaid family workers Persons in employment in labour relation

7 Persons in employment and registered unemployed persons, Slovenia, January 2007 October I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII Persons in employment Registered unemployed persons

8 Persons in employment and registered unemployed persons, Slovenia, January 2007 August I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII Persons in employment Registered unemployed persons

9 Registered unemployment rates, Slovenia, January 2007 August ,0 9,4 9,0 8,0 7,0 6,3 6,0 5,0 4,0 3,0 2,0 1,0 0,0 I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII

10 Number of persons in employment in manufacturing, Slovenia, January 2007 August I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII

11 Monthly gross and net earnings and number of persons in paid employment who received earnings, Slovenia, January 2007 August EUR I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII Number of persons in paid employment who received earnings Gross earnings Net earnings Number of persons in paid employment who received earnings

12 Number of paid overtime hours and average monthly gross earnings for overtime hours, Slovenia, January 2007 August Num ber of paid overtime hours I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII IX X XI XII I II III IV V VI VII VIII Average m onthly gross earnings for overtim e hours Number of overtime hours Average monthly earnings for overtime hours

13 Deseasonalized labour cost index and nominal index of average gross earnings, Slovenia, 1st quarter nd quarter ,0 105,0 100,0 95,0 90,0 85,0 80,0 1Q Q 3Q 4Q 1Q Q 3Q 4Q 1Q Q 3Q 4Q 1Q Q Labour cost index Average gross earnings

14 Job vacancies, Slovenia, 1st quarter nd quarter Q Q 3Q 4Q 1Q Q 3Q 4Q 1Q Q

15 Job vacancy rates, EU member states, 2nd quarter ,7 2,5 2 1,5 1,4 1 0,6 0,5 0 0,3 Portugal Latvia Luxembourg Cyprus Germany Netherlands Finland United Kingdom EU 27 Greece Czech Republic Slovakia Hungary Romania Sweden Estonia Bulgaria Poland Slovenia Spain Lithuania

16 What will the future bring?

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