Out of university and out of work

Worrying figures released show that a rising number of Slovakia’s higher education graduates have failed to find work, which could mean many of the country’s brightest new minds could decide to head for pastures new.

The number of unemployed graduates has risen from 19,075 last year to 23,219 this year, and that figure looks certain to increase further once the second round of graduation ceremonies gets under way in the autumn.

“We expect them to be joined by more university leavers during summer and this September,” said Postova Banka analyst, Eva Sadovska.

On the whole, the unemployment figure in 2010 has fallen consistently for the past three months, prompting analysts to suggest there may be some gradual stabilisation appearing in the labour market, but the jobless total is still higher than it was last year.

Any flurry of new jobs up for grabs is not likely to be seen in the near future. . “Consistent, mild economic recovery is no guarantee for a rapid increase in new jobs,” said Volksbank analyst, Vladimir Vano.

According to Mr Vano, new foreign direct investments, as well as small and medium sized businesses seeing an increase in their day-to-day activities, are ways in which the out-of-luck graduates are more likely to see suitable employment opportunities.

2009, including September’s output, saw a 70-percent increase year-on-year (nearly 14,000) in the number of jobless graduates.

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