R – unemployment fell to 3.5% in June. The resilience of the Czech labor market is admirable.

R – unemployment fell to 3.5% in June. The resilience of the Czech labor market is admirable.
R – unemployment fell to 3.5% in June. The resilience of the Czech labor market is admirable.

The registered rate of unemployment in the Czech Republic decreased during the month when after 3.6 in June, it reached 3.5%. This is a slight positive surprise for the market, as it avoided stagnation. According to the unemployed, it is on the same level as last year at this time. Keep an up-to-date record of all jobs 280.5 thousand job vacanciesi.e. by almost 2 thousand less than a month ago and 17 thousand less than a year ago. There are 260.6 thousand registered job applicationsi.e. by 2.5 thousand less than a month ago and by 5 thousand more than a year ago. There are currently 0.9 applicants for one vacant position.

From a geographical point of view, traditional unemployment is the biggest problem in the districts Karvin (8.0%), Apple juice (7.0%) a Chomutov(6.3%), especially in the districts Prague-entrance (1.4%), Prague-west(1.6%) a Pelhimov (1.7%). The worst petlak on the streets of work prevails in the districts Karvinwhere there are 9.8 applicants for one vacant place, Bruntl(6.4) a Jesenko (4.4), not least in the districts Young Boleslav(0.2), Prague-west and Prague-entrance (equivalent to 0.3).

The last internationally comparable data comes from the month of among them, the least unemployed country is the European Union, with an unemployment rate of 2.7%. In this meeting, dr Malta and Poland(corresponding to 2.8%). At the other end, we will find the ebka manor (12.1%), eck(8.6%) a thank you (7.7%). It should be noted that the methodology of the unemployment rate input used by Eurostat has since been reported by the Czech Ministry of Labor and Social Affairs.

The recent slight drop in unemployment is a standard phenomenon in Estonia, resulting from the listed factors. His flight is again positive due to the continued cooling of the Czech economy at first. The industrial sector reports that the demand for workers has practically not changed since 2022, when the energy crisis fully hit it, and in the construction industry this situation has lasted since November 2022. However, this is not evident in the unemployment statistics. This summer’s unusually warm weather, which extended the season for outdoor activities, may have played a role in this. It can therefore be assumed that even if some companies actually limited it, or even managed to get rid of it, the labor force deficit on the domestic market is so deep that it was able to immediately absorb all free workers in new jobs. Even in the rest, there will be no threat of broken work for echo magpies. Although the unemployment rate will probably increase slightly during this period, it should not exceed 3.8%. The change could come only at the beginning of the new year. If the weak demand for industrial production does not recover, for which there is currently nothing to do, a large number of companies could opt for non-renewal of employment contracts for the whole year. Even then, unemployment will not be a significant macroeconomic problem. In particular, it would only slightly exceed the value of 4%, which is relatively low in both historical and international comparisons.

Vt Hradil

chief economist

The company CYRRUS, as, is a licensed trader of valuable peppers and one of the largest investment companies in the Czech Republic. In addition to private investment services, CYRRUS also offers corporate services to every investor, such as corporate consulting, bond issue management for your company, fund deposit services for qualified investors, or implementation of currency conversions and foreign payments under suitable conditions.
In 2020, the company celebrated its 25th anniversary in capital markets.

More information at: www.cyrrus.cz

The article is in Czech

Tags: unemployment fell June resilience Czech labor market admirable


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