Unemployment hits lowest rate in nearly 22 years

The unemployment rate in Czech Republic fell to three percent in September and is the lowest in 22 years. According to the Czech Labor Office, the Czech economy is doing well, and employers hire new employees. More than 30,000 people found a job in September.

"In September there was a decrease in unemployment. Economics is doing well, and employers take on additional staff. There were also 33,300 job seekers that started a new job in the previous month," said Kateřina Sadílková, Director General of the Labor Office. The office also recorded 224,000 job seekers, which is exactly 3 percent of unemployment. 

The numbers also show that graduates are doing well. This means that they can find a job immediately after studies which reduces the risk of long-term unemployment. Companies do not want much experience from graduates, they want to raise them. The problem is a lack of manpower. Jobs requiring only basic education (laborers and assistants in manufacturing, cleaning staff, drivers, warehousemen, welders or chefs) are the most sought after by Czech companies and they are looking for them precisely because of the structure of the Czech economy.

The excess of vacancies is further increasing, with only 0.71 job seekers per vacancy. The labor market is heavily overheated, companies have the problem of finding suitable candidates and the room for a further drop in unemployment is thus rather limited. In some districts, even 1 percent of the unemployed are attacked. These are mainly the districts Rychnov nad Kněžnnou (1.1 pc), Jindřichův Hradec and Prague-East (1.3 pc). On the other hand, the districts of Karviná (7 pc), Most (6.3 pc) and Ostrava-City (5.5 pc) face the highest unemployment in the Republic.

 

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