Despite a slight increase in the unemployment rate in January due to economic difficulties in the territory, Czech unemployment remains one of the lowest in the European Union. According to some experts, the unemployment rate will remain constant throughout the year without exceeding the 4% threshold.
According to Daniel Krištof, director general of the Czech Labor Office (ÚP ČR), “For the third consecutive month, the number of job seekers in our records exceeds the number of registered vacancies.” However, the increase in the unemployment rate in January, caused by the end of seasonal or temporary work, will not significantly affect the month of February, but despite this, there is no decline in unemployment. In fact, at the end of February, the number of unemployed was 296.107, or 561 more than in the previous month. According to data published by the Czech Labor Office, the unemployment rate was sticking around 3,9%, indicating that there were 1.1 job seekers for every vacancy.
More specifically, the highest unemployment rate was observed in the Ústí region, where it was with 6%, and in the Moravian-Silesian region, with ,5,5%. In contrast, the lowest unemployment rate was in Prague, with 2,9%, followed by the Zlín and Pilsen regions with 3,2%. Among the various districts, the highest unemployment rate was in the Karvinska region, where it reached 8,2%,indicating a surplus in the labor market with 11 applicants for every vacancy. By contrast, the lowest unemployment rate was in the Praha-východ district, with only 1,5% of people looking for work.
The number of people registered with employment offices also includes unemployed people who cannot start working such as: individuals taking retraining courses, women on maternity leave, prisoners or people with disabilities. Around 272.376 people between the ages of 15 and 64 were registered in the Czech Republic. The highest demand is in Prague, where employers offer nearly 80.000 positions for laborers, forklift operators, warehouse workers, truck or tractor drivers, cooks or cleaners.
In addition, labor bureau data show that since the invasion of Ukraine, approximately 383.500 ukrainians have found work during the year. The largest number of employed refugees, about 21.600, were in Central Bohemia, followed by Pilsen and Prague. They often worked as product and equipment assembly workers; helpers in construction, production, and transportation; or as operators of stationary machinery and equipment.
Comparing the data at European level, the unemployment rate stood at 6% in January, down from the previous year’s level of 6.5%. According to Eurostat estimates, by country, Spain remains the member State with the highest unemployment rate (11.6%), followed by Greece (10.4%) and Sweden (8.2%). At the other extreme, however, with the lowest unemployment rates are Poland (2.9%), the Czech Republic (3%) and Germany (3.1%).
In conclusion, it can be said that despite economic challenges and seasonal fluctuations, the Czech Republic continues to maintain one of the lowest unemployment rates in Europe. With the rate hovering around 3.9%, the country demonstrates robustness in the labor market, with a steady supply of employment opportunities. Labor market trends, supported by significant demand in sectors such as construction and a steady flow of workers, indicate a resilience and dynamism that contribute to the country’s economic stability.
Sources: https://www.irozhlas.cz/ https://ec.europa.eu/
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