14 Jan 2019
Despite a recent increase in unemployment, the Czech Republic is expected to bounce back to its former ways in just a matter of months.
Since 2015, steady economic growth has taken place in the Czech Republic, and in November, unemployment numbers were the lowest recorded across the EU – according to statistics provided by Eurostat.
Yet the Czech Labour Office has since released new figures which reveal a change in unemployment levels, with the percentage rising from 2.8% to 3.1% from November to December 2018. The highest unemployment level was recorded in the Moravian-Silesian Region (4.7%) while the lowest was seen in Prague (1.9%).
The rise in unemployment is a typical occurrence towards the end of a year, Labour Office director Kateřina Sadílková told the Czech News Agency. Seasonal workers who see their contract run out are partially why.
However, although unemployment levels have struggled, the number of vacancies has actually increased by around a thousand when compared with November – while the year-on-year growth recorded a rise of over 100,000 positions. There has also been an increase in vacancies for those who typically find it harder to be employed, such as the elderly and disabled.
Economists have said that the rise in unemployment is just a temporary occurrence and that it will likely decrease in coming months.
Delloite analyst David Marek said that it should last until April, before unemployment levels are back to the way they were.