The EC pointed to the very high long-term unemployment rate
, and also the low spending on active labour market policies, among the lowest in the EU.Problematic corruptionThe EC is critical over the weak quality and efficiency of public administration and wider business environment in Slovakia.
Long-term unemployment rate
- covering people who have been without a job for more than a year - was 2.9%, or 95,700 people.
Crime rate serves as the dependent variable in a regression model, with the following social and economic elements as independent variables: population density, at-risk-of-poverty rate, less-educated population, more-educated population, total unemployment rate, long-term unemployment rate
, number of police officers, expenditures per police officer, gross domestic product (GDP) based on purchasing power parity per person, and clear-up rate (defined as the ratio of the number of solved crimes to total committed crimes).
Only England has a long-term unemployment rate
below the UK average
I express the long-term component of the unemployment rate as a long-term unemployment rate
(that is, the number of people unemployed for more than six months as a share of the total labor force).
AR activity rate, LTUR long-term unemployment rate
, YUR youth unemployment rate, EMS export market share, PSD private sector debt, UR unemployment rate, GGD general government debt, NIIP net international investment position, REER real effective exchange rate, CA current account balance, NULC nominal unit labour cost, PSCF private sector credit flow, TFSL total financial sector liabilities, HPI house price index.
The Fed estimates that a normal, long-term unemployment rate
has a range of 4.6 percent to 5.0 percent.
The average of the long-term unemployment rate
among youths (15 to 29 years of age) in the EU-28 was of 6.9% in most member-states, as these recorded some slight decreases against the preceding year.
Although the short-term unemployment rate indicates labor market tightness, being about 1 pp below its long-term average (Figure 7), the long-term unemployment rate
(27-weeks or more) remained about 0.5 pp above its 20-year average.
Last year, Cramer, Cho, and I estimated the Phillips curve by regressing expected real wage growth on various measures of labor market slack, including short-term and long-term unemployment rates
. (21) We found that the coefficient on the short-term unemployment rate was much larger than that on the long-term unemployment rate
, and a test of the difference between these two effects was statistically significant.
The unemployment rate remains elevated because of an unacceptably high prevalence of long-term unemployment, but it is encouraging that roughly half the decline in the overall unemployment rate over the past year has come from a falling long-term unemployment rate
, a disproportionate contribution since the long-term unemployed represent about one-third of the total unemployed, Furman said.