YOUTH UNEMPLOYMENT IN THE LABOR MARKET OF SLOVAK REPUBLIC

The integration of young people into labour market is one of the biggest problems of the European Union member states labor markets. Young people are more often unemployed than older workers, they also are frequently employed in insecure temporary jobs or/and the jobs within the secondary labor market with lower wages and a lower level of social security. This integration of young people into the labor market became a significant agenda for EU member states. Unemployment among young people under 25 years in Slovakia belongs to one of the highest ones among the EU28 countries. One of the basic socio-demographic peculiarities of the young population aged between 15 and 24, respectively between 15 and 29 years, is the fact that the age range is associated with the end of school education (ie. the completion of a certain degree of educational attainment) and entering the labor market. Future career trajectory of young people depends on a successful mastering the transition from education system to the labor market. Labor market's ability to absorb increases in the labor force is also dependent on an extent of total and youth unemployment. Under conditions of high unemployment rate, the chances to find a first job among young people have declined due to strong competitive pressure from employers, who are preferring workforce that has practical skills and professional experience. According to OECD, if young people face the unemployment immediately after completing their preparation for professional life, it may result in so-called "scarecrow" effect of unemployment e.g. increased inclination towards unemployment also in the future. The graduate unemployment in the Slovak Republic is marked by a typical strong cyclical nature, which is characterized by a period / periods of massive influx of unemployed individuals after leaving the education system, and by a subsequent period of gradual integration into the workforce. This also applies to the unemployment of university graduates.