Unemployment rate slightly rises but so do job vacancies

The Czech unemployment rate registered a slight increase in July after steadily dropping for five consecutive months. However, the labour market is still tight and job vacancies are on the rise again.

Data published yesterday shows the unemployment rate rose to 3.1 percent from last month’s 2.9 percent. There are currently 231 thousand people without a job, the lowest number measured in July for more than two decades. Compared to last year, joblessness rate dropped one percent. 

According to the Labour Office, the main reasons behind the increase are caused by seasonal effects. Unemployment is usually higher in July, in part due to slower recruitment during holidays or new graduates looking for a job.

Interestingly, along with the rising unemployment rate, there are 120 thousand more jobs available on the Czech labor market.