Unemployment rate to rise in 2013
We expect that the labour market situation will deteriorate further in the months ahead, and that by the end of the first quarter of 2013 the official jobless rate will markedly exceed 14%, though it is likely to ease in the spring due to seasonal factors. And while the economy should start a gradual recovery in the second half of the year, the anticipated revival is unlikely to provide any significant boost to the labour market until it gathers more momentum. Therefore we forecast that at the end of 2013 the registered unemployment rate will be 13.9%.
Construction Market Analyst, PMR