In October, the number of persons in employment remained largely unchanged (seasonally adjusted). Their number has shown little variation since mid-2023 (except for a methodological change at the beginning of this year), with developments varying across activities. In October, growth in the number of persons in employment continued in the public services, most markedly in human health and social work activities. In construction, the number of persons in employment stagnated against the backdrop of lower activity and a persistent shortage of skilled labour. The number is also stagnating in market services, while it is gradually declining in manufacturing (all seasonally adjusted). Year-on-year growth in the overall number of persons in employment in October (1.1%) was consistent with the growth observed in previous months. In the first 10 months of 2024 their number was 1.2% higher year-on-year. Among those in employment, the number of foreign workers continues to rise, whereas the number of Slovenian workers is declining, albeit very slowly, due to retirement. In October, the share of foreign citizens among all persons in employment was 15.9%, 1.2 p.p. higher than a year earlier. Activities with the largest share of foreigners are construction (50%), transportation and storage (34%) and administrative and support service activities (29%).

In October, year-on-year real growth in the average gross wage was higher than in previous months (6.8%), which was due to both higher nominal wage growth and low (zero) inflation. In the public sector, wage growth (4.7%) was primarily driven by an increase in the value of the pay scale grades following a partial wage adjustment for inflation in June. In the private sector, where wage growth (7.9%) has outpaced that of the public sector this year, labour shortages continue to play a key role in driving wage increases. In the first ten months, overall average gross wage increased by 6.5% year-on-year in nominal terms – by 7.6% in the public sector and by 4.4% in the private sector. This increase was lower than that observed in the same period last year when higher inflation led to a higher wage adjustment.

In November, Slovenian industrial producer prices rose by 0.5% month-on-month, while the year-on-year decline eased to -0.4% (compared to -1.3% in October). The year-on-year decline in prices was still primarily driven by a 1.2% decline in the intermediate goods group, although the pace of this decline has been gradually slowing. Prices of capital goods also saw a year-on-year decline (of 0.7%). Energy prices, which were nearly 15% lower year-on-year in October, rose by 1% in November, primarily due to a sharp monthly rise (of 12.7%). Prices of electricity, gas, steam and air conditioning supply rose by more than a tenth month-on-month, but were still 2.1% lower year-on-year. Prices of coke and refined petroleum products increased by almost a fifth compared to October (by 9.6% year-on-year). The year-on-year growth of consumer goods prices remains steady at approximately 1%. Prices on the domestic market fell by 0.9% year-on-year in November, and prices on foreign markets also recorded a slight decline (-0.1%).