<abstract xmlns="http://www.w3.org/1999/xhtml">
<p>Unemployment is a factor that heavily influences the output of each economy. It is, therefore, one of the main concerns of any government worldwide. This study identifies key determinants of unemployment. By constructing an econometric model for the registered unemployment rate in Slovakia, the period from 2013 to 2022 was under scrutiny, while the impact of the COVID crisis was considered in the model through a dummy variable. Potential determinants of unemployment were selected based on theoretical knowledge and other scientific works, that is, average interest rates, gross minimum wage, GDP, inflation, exports, imports, government spending, corruption index, COVID-19 crisis, and month of the year. The final relevant factors for unemployment were tested and validated: interest rates, GDP, inflation, government spending, and exports. These study results may be valuable for the government when designing targeted interventions to optimise the unemployment rate in Slovakia or similar economies by influencing other macroeconomic indicators.</p>
</abstract>

Unemployment is a factor that heavily influences the output of each economy. It is, therefore, one of the main concerns of any government worldwide. This study identifies key determinants of unemployment. By constructing an econometric model for the registered unemployment rate in Slovakia, the period from 2013 to 2022 was under scrutiny, while the impact of the COVID crisis was considered in the model through a dummy variable. Potential determinants of unemployment were selected based on theoretical knowledge and other scientific works, that is, average interest rates, gross minimum wage, GDP, inflation, exports, imports, government spending, corruption index, COVID-19 crisis, and month of the year. The final relevant factors for unemployment were tested and validated: interest rates, GDP, inflation, government spending, and exports. These study results may be valuable for the government when designing targeted interventions to optimise the unemployment rate in Slovakia or similar economies by influencing other macroeconomic indicators.

The Anatomy of Unemployment: Determinants During and After the COVID-19 Crisis

Faculty of Operation and Economics of Transport and Communications, University of Zilina

Faculty of Operation and Economics of Transport and Communications

Management Dynamics in the Knowledge Economy

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

{"article-title":"The Anatomy of Unemployment: Determinants During and After the COVID-19 Crisis"}

Unemployment is a factor that heavily influences the output of each economy. It is, therefore, one of the main concerns of any government worldwide. This study...

The Anatomy of Unemployment: Determinants During and After the COVID-19 Crisis

Published Online: Apr 08, 2024

Page range: 86 - 100

Received: Oct 20, 2023

Accepted: Jan 28, 2024

DOI: https://doi.org/10.2478/mdke-2024-0006

Keywords
COVID-19, crisis, unemployment, determinants of unemployment, dynamics, development

© 2024 Matus Senci et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

The Anatomy of Unemployment: Determinants During and After the COVID-19 Crisis

Published Online: Apr 08, 2024

Page range: 86 - 100

Received: Oct 20, 2023

Accepted: Jan 28, 2024

DOI: https://doi.org/10.2478/mdke-2024-0006

KeywordsCOVID-19, crisis, unemployment, determinants of unemployment, dynamics, development

© 2024 Matus Senci et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Keywords
COVID-19, crisis, unemployment, determinants of unemployment, dynamics, development