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Federgon Quarterly Report Q2 2013

The Federgon quarterly report for quarter two of 2013 has found that the HR services market is still under pressure under the influence of the labour market contraction.

The report found that the stabilization of economic activity in the second quarter has resulted in a slight increase in optimism. After a year of economic recession, GDP is finally out of the red and recorded zero growth on an annual basis. This result is related to a limited to an increase in domestic demand (0.1%) measurement.

Exports to our larger neighbours, however, increased by 1.4% and imports rose by 1.2%, resulting in a positive contribution of 0.2% to economic growth. Both entrepreneurs and households have gradually bounced back during the quarter.

The contraction of employment in a year apart (both workstations and volume) and the constant growth of the working age population has resulted in a continued rise in the unemployment rate.

The use of temporary unemployment has also increased elsewhere.


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