IMPACTS OF CHANGED ECONOMIC CONDITIONS ON THE SLOVAK LABOUR MARKET

Slovakia as a small open economy with a high proportion of foreign trade in GDP, is sensitive to changes in the global economy. Global financial and economic crisis caused significant social impacts on people, had a negative impact on the economy, led to a slowdown in economic growth and reduce employment. The essential features of the Slovak labor market include: high level of long-term unemployment, high youth unemployment and persons with low education, large regional differences in unemployment, skills mismatch between supply and labor market needs. Although it is currently in Slovakia recorded GDP growth, while this is not always translate into employment growth. Current issue is the strengthening of policies oriented to protect existing and create new jobs, introducing greater flexibility in relation to the labor market and increase the efficiency of labor market policies. Traditional employment policy measures are not always able to solve the long-term unemployment, therefore, in Slovakia the new initiatives and tools of the social economy are created, which have been appeared to be effective in the fight against unemployment.