In Brief: Unemployment In The Czech Republic Continues To Fall, Today It Stands At 3.5%
According to new data from the Czech Labor Office, the country has seen a further decrease in unemployment. From August to September, unemployment decreased by 0.1%, and is approaching pre-Covid-19 levels. Credit: Freepik.
Czech Rep, Oct 5 (BD) – Unemployment figures are continuing their positive trend. Almost 5,700 fewer people are looking for work compared to last month; the unemployment rate is now 3.5%, and has been steadily decreasing since March of this year.
“Although unemployment increased slightly last year, the worst-case scenarios did not materialize thanks to the Antivirus program,” said Jana Maláčová, Minister of Labor and Social Affairs.
“We are one step away from the unemployment rate before Covid-19. In other words, the job market is reopening,” said Helena Horská, head economist at Raiffeisenbank.
Some experts, including Horská, point out that the Czech labour market is tight and the low unemployment levels can contribute to an overheating of the economy.
According to the latest available data from Eurostat for August 2021, the Czech unemployment rate was the lowest in the entire EU, against an EU average of 6.7%.