With the publication of the work “Potential GNP: its measurement and significance” (Okun, 1962), the concept of Okun’s law became an important part of global macroeconomic issues. The empirically determined connection between the national product and unemployment, which is manifested through Okun’s law, belongs to a fundamental part of economic empiricism. Gross domestic product and unemployment are among the main macroeconomic variables that reflect the movement of a country’s economy. The countries we observe in this paper went through a transition period in the 1990s, namely a period of great economic, institutional and economic changes. Precisely because of these changes, we are interested in comparing the Slovak and Croatian economies and testing Okun’s law. The aim of this paper is to show whether Okun’s law is valid for Croatia and Slovakia, or whether there is a correlation between the observed variables for these countries. The final purpose of the paper is to show whether there are similarities between the two observed economies when it comes to Okun’s law. We will show this similarity based on the analysis of data for the period from 2000 to 2018 using vector autoregression. The results of the research have been presented at the end of the paper and they are related to the implications of economic policy in the sphere of the labour market that directly affect economic growth and development.Objavom djela „Potential GNP: its measurement and significance“ (Okun, 1962) koncept Okunova zakona postaje važan dio globalne makroekonomske problematike. Empirijski utvrđena povezanost nacionalnog proizvoda i nezaposlenosti koja se očituje kroz Okunov zakon temeljnim dijelom pripada ekonomskoj empiriji. Bruto domaći proizvod i nezaposlenost su među glavnim makroekonomskim varijablama koje prikazuju kretanje gospodarstva jedne zemlje. Zemlje koje promatramo u ovome radu su 90-ih godina prošlog stoljeća prošle kroz tranzicijsko razdoblje odnosno razdoblje velikih gospodarskih, institucionalnih i gospodarskih promjena. Upravo zbog tih promjena zanimljiva nam je usporedba slovačkoga i hrvatskoga gospodarstva te testiranje Okunova zakona. Cilj ovoga rada je prikazati vrijedi li Okunov zakon za Hrvatsku i Slovačku, odnosno postoji li međusobna povezanost promatranih varijabli za te zemlje. Svrha rada je prikazati postoje li sličnosti između dva promatrana gospodarstva kada je u pitanju Okunov zakon. Ta sličnost će se prikazati na temelju analize podataka za razdoblje od 2000. do 2018. godine primjenom vektorske autoregresije. Na kraju rada prikazani su rezultati istraživanja te su povezani s implikacijama ekonomske politike u sferi tržišta rada koje izravno utječu na ekonomski rast i razvoj
