Before we raise the Czech Republic on a pedestal and proclaim it to be a model of industrial success, it is important to consider the long term implications of this success, such as the reliance on workplaces which are projected to be taken over by robots in the near future, and the need to discourage employment by foreign workers who might compete with local Czechs over these low skill, low wage jobs. First, it might not be surprising that the cost of labor in the Czech Republic is so cheap. The Trading Economics Application Programming Interface (API) provides direct access to our data. Explore the most complete set of 6.6 million time series covering more than 200 economies, 20 industries and 18 macroeconomic sectors. Payable monthly by credit card. Inflation, now around 9.9 percent, is expected to soon hit double-figures. It has maintained one of the lowest unemployment rates across Europe in recent years. There will also be an end to Ukrainian men coming to the Czech Republic. Meanwhile, the number of job vacancies decreased by 3.7 thousand to 360.2 thousand. Figures have been rounded. It now, in fact, has the lowest rate across the whole of the EU, at just 2.2 percent, according to a recent update published by Eurostat, the blocs statistical office. Czech Republic Unemployment Rate increased to 2.50% in May 2022, from the previously reported figure of 2.40% in Apr 2022. Although the average gross salary rose to around 1,590 per month in the last quarter of 2021, the high rate of inflation meant in real terms wages fell by more than two percent. The race to stop Europes young and jobless from becoming a lost generation, Andrej Babis: Former Czech PM loses secret police collaboration case, Andrej Babi: Czech parliament lifts immunity of former prime minister over fraud, Czech millionaire investigated for racing at 417 km/h on German autobahn. Currently, the European Union is in excellent condition as can be seen by its economic growth in the second quarter of 2017- 2.2%, much like the United States. To use individual functions (e.g., mark statistics as favourites, set Petr Fiala, the new prime minister, campaigned at last Octobers general election on the promise to significantly cut state spending and tighten the state purse. Suitable for enterprise usage. World Bank, and Czech Statistical Office. A couple crosses the medieval Charles Bridge as snow falls in Prague, Czech Republic, Friday, March 4, 2022. In early February, his cabinet approved a draft budget for 2022 that will cut spending by around 3.1 billion and increase revenue collection by around 2.4 billion. (June 30, 2022). IO: 27572102. It is true that the Czech Republic currently has a large proportion of high school graduates, but few Czechs have a college degree or a professional diploma. This week, the Czech Statistical Office released its latest data on earnings. In, World Bank, und Czech Statistical Office. It was the lowest jobless rate since November of 2021 as the number of job seekers fell by 9.2 thousand from the previous month to 243.7 thousand. It remains unclear how many Ukrainian nationals have left the Czech Republic since the war began. Workers are becoming more choosy and patient. Download limits apply. The data is reported by reported by CEIC Data. Czech Republic Unemployment Rate 1991-2022, Czech Republic unemployment rate for 2021 was, Czech Republic unemployment rate for 2020 was, Czech Republic unemployment rate for 2019 was, Czech Republic unemployment rate for 2018 was. In a year-on-year comparison, the labor market situation in January 2022 was more favorable. We have a plan for your needs. API users can feed a custom application. But the following month there were more than 364,000 job vacancies, meaning that for every available job there are only 0.7 applicants, according to reports from Jana Steckerov, an economist at the Commercial Bank (KB), a local bank. The average age of job seekers in January was 43.7 years, while last year it was 42.7 years. It was the lowest jobless rate since March of 2020 as the number of job seekers fell by 4.2 thousand from the previous month to 231.3 thousand. White label accounts can distribute our data. You only have access to basic statistics. There was a decrease in the number of unemployed, while the number of vacancies increased year-on-year, Najmon added. The Czech unemployment rate ticked down to 3.1 percent in June of 2022 from 3.2 percent in the previous month, below market expectations of 3.2 percent. As of Jan. 31, 2022, the Labor Office registered a total of 267,076 job seekers, which was 8,903 more than in the previous month but 41,783 fewer than last year. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. This is a big concern for the Czech Republics construction industry, which has typically relied on Ukrainian workers, especially as Czech builders migrate for better-paying jobs in Germany or western Europe. In March of 2021, the unemployment rate was higher at 4.1 percent. The Czech Labor Office, as part of the Ministry of Labor and Social Affairs, uses a different methodology to calculate unemployment than the separate Czech Statistical Office (S). It is premature to predict the impact of the war in Ukraine on the Czech labor market, said the spokesperson for the Ministry of Labor and Social Affairs. Includes 345 key indicators for Czech Republic, curated by CEIC analysts. Which regions are ranked the best to live in Czechia? According to him, the Czech Republic is the assembly line hub of Europe, not its knowledge and innovation hub. He claims that the changes he recommends would encourage the creation of high skill, high wage workplaces. However, since the end of 2015, the labor market of the neighboring Czech Republic is considered to be stronger. And even over the past 12 months there have been only slight changes: the share of unemployed people has fallen in the under-29 age group, while the share of unemployed in the 50-plus category has increased. Chinese embassy condemns Taiwan parliament head's visit to Prague, On this day in 1822: The 'godfather of modern genetics' is born in Czechia, New Covid variant resistant to antibodies confirmed in Czechia, Airline industry chaos in Europe disrupts Prague Airport's operations. Please create an employee account to be able to mark statistics as favorites. In January 2022, a total of 90,021 people received unemployment benefits, only a third of all job seekers, according to the Labor Office. Show publisher information This website stores cookies on your computer. A single cookie will be used in your browser to remember your preference not to be tracked. According to the OECD study, published last year, the Czech Republic faces the greatest threat to loss of workplaces due to automation. Standard users can export data in a easy to use web interface or using an excel add-in. People who want to work can still find a suitable job in the Czech Republic.. The Czech unemployment rate edged down to 3.4 percent in March of 2022 from 3.5 percent in the previous month, in line with market expectations. Because of the pandemic, I came home. Inflation rate in the Czech Republic 1989-2027, GDP growth forecast: Eastern Europe, U.S., U.K. and Germany 2010-2026, Share of economic sectors in the GDP of the Czech Republic 2020, Gross domestic product (GDP) growth rate in the Czech Republic 1993-2026. In the last quarter of 2021, inflation stood at 6.1 percent. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Some entrepreneurs also stopped their business, Viktor Najmon, the general director of the Labor Office, said in a press release. These cookies are used to collect information about how you interact with our website and allow us to remember you. Published on 09.02.2022 12:35:00 (updated on 09.02.2022) (billed annually). Full and unlimited access to CEIC data for multiple users. Stagnating prices and larger supply: What's happening on the Czech real estate market? A spokesperson for the Czech Ministry of Labor and Social Affairs said the unemployment rate is indeed very low and no significant changes are expected in the near future. Government incentives initiated in the 90s, such as tax exemptions for new companies and financing to creating new work places, attracted many foreign investments and those grew once the Czech Republic joined the European Union in 2004. Had the war in Ukraine not started, the new Czech government, which took office in December, might have enjoyed a successful year economically. To find out more about the cookies we use, see our Cookies Policy. But his friend, Petr, is now heading in the opposite direction. However, concerns have been raised about longer-term problems. The spokesperson for the Ministry of Labor and Social Affairs, noting that the vast majority of Ukrainian refugees are women, stressed that many of the jobs available in the Czech Republic are suitable for women.. Available via annual subscription to one or more of CEICs global and premium databases. For workers, that means a higher cost of living, which any increase in wages wont be able to compensate for, especially if the Ukraine war dents economic activity. The labor market situation in January was in line with long-term trends and typical development curves reflecting seasonal shifts in employment. In March of 2021, the unemployment rate was higher at 4.2 percent. All rights reserved, Unlimited access tailored to your data needs. The age structure of job seekers has not changed significantly over the last five years. But economists warn that the rate is low because of a shortage of workers, a concern for Czech industries.
However, the war in Ukraine puts Fialas austerity measures at risk. In Germany, the unemployment rate in that month was 3.8% and in the entire European Union, the average rate was 7.7%. In other words: when Europe is economically successful, the Czech Republic is even more economically successful. Around a third of all foreigners who live in the Czech Republic are Ukrainian, many in temporary and low-paid jobs. Why does the Czech Republic have the lowest unemployment rate in all of Europe? All rights reserved.Expats.cz, Vtkova 244/8, Praha 8, 186 00 Czech Republic. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook At the end of January 2022, the Labor Office registered 267,076 job seekers. As in many states, the Czech Republic also faces an aging population base and bureaucratic difficulties that make it hard for companies to employ foreign workers. The lowest unemployment rates at the end of the previous month were in Prague East, at 1.2 percent, Prague West, at 1.7 percent, and Pelhimov and Beneov, both at 1.8 percent. In the latest reports, Czech Republic Population reached 10.52 million people in Dec 2021. There were also people whose fixed-term employment contracts and agreements expired at the end of last year. Please check your download folder. Are you interested in testing our corporate solutions? Czech Republic: Unemployment rate from 1993 to 2021 [Graph]. Fuel prices are spiking. Instant access to full history data in excel. Schools, which have faced severe problems with recruitment because of the COVID-19 pandemic, are being advised to offer short-term and part-time employment. He recommends maintaining the low unemployment level through structural changes to the government incentive system and the educational system. Instant access to full history data in excel. Petr David Josek/Copyright 2022 The Associated Press. Michal Skoepa, an analyst at esk spoitelna, the countrys largest bank, has argued the refugee crisis could lead to a slight increase in unemployment. Women accounted for 50.8 percent of the total number of registered job seekers. ", World Bank & Czech Statistical Office, Czech Republic: Unemployment rate from 1993 to 2021 Statista, https://www.statista.com/statistics/369864/unemployment-rate-czech-republic/ (last visited July 22, 2022), Czech Republic: Unemployment rate from 1993 to 2021, Gross domestic product (GDP) in the Czech Republic 2027, Unemployment rate in the Czech Republic 2021, Annual business confidence index for the industrial sector in EU 2008-2022, Annual business confidence index for the industrial sector Czech Republic 2008-2022, Industry revenue of manufacture of parts for motor vehicles in Czechia 2012-2025, Industry revenue of manufacture of basic chemicals, fertilisers in Czechia 2012-2025, Industry revenue of manufacture of plastic products in Czechia 2012-2025, Industry revenue of manufacture of electric motors, generators in Czechia 2012-2025, Industry revenue of manufacture of rubber products in Czechia 2012-2025, Annual business confidence index for the service sector Czech Republic 2008-2022, Industry revenue of rental and operating of own or leased real estate in Czechia 2012-2025, Industry revenue of architectural and engineering activities in Czechia 2012-2025, Industry revenue of advertising in Czechia 2012-2025, Industry revenue of restaurants and mobile food service activities in Czechia 2012-2025, Industry revenue of hotels and similar accommodation in Czechia 2012-2025, Annual business confidence index for the retail sector Czech Republic 2008-2022, Industry revenue of retail sale in non-specialised stores in Czechia 2012-2025, Industry revenue of sale of motor vehicles in Czechia 2012-2025, Industry revenue of retail sale of automotive fuel in specialised stores in Czechia 2012-2025, Industry revenue of sale of motor vehicle parts and accessories in Czechia 2012-2025, Industry revenue of retail sale of cultural and recreation goods in Czechia 2012-2025, Professional social network penetration in the Czech Republic 2011-2017, Textile manufacturing sector: production value in the Czech Republic 2011-2020, Czech Republic: enterprises manufacturing military fighting vehicles 2014-2018, Textile manufacturing sector: number of employees in the Czech Republic 2010-2019, Czech Republic: enterprises manufacturing aircrafts & spacecrafts 2009-2018, Trust in authorities and institutions in Poland 2017-2020, Finland: number of glass and glass products manufacturers 2008-2017, Intention of French people to buy chocolate for Easter 2019, Find your information in our database containing over 20,000 reports, Find a brief overview of all Outlooks here, Tools and Tutorials explained in our Media Centre. The number of job seekers fell by 10.6 thousand from the previous month to 253.8 thousand. Earlier this month, the Czech government imposed a state of emergency in a bid to help its bureaucracy cope with the number of refugees.
From data published this week it turns out that the unemployment rate in the Czech Republic was no more than 2.9% in June 2017. There has been a gradual decline in seasonal work, mainly in construction and agriculture. We will save on the expenditure side and we will better manage taxpayers' money, Fiala promised. World Bank, & Czech Statistical Office. Current job openings: Download historical data for 20 million indicators using your browser. How has the pandemic affected youth unemployment? These are the most in-demand jobs in Czechia, Morning headlines: Czech tourist killed in glacier collapse in Italian Alps amid heatwave. On the other hand, the highest share of unemployed people was reported by the districts of Karvin, at 8.6 percent, followed by Bruntl, at 6.8 percent, and Most at 6.5 percent. The government may be forced to alter its budget cuts before parliamentarians vote on it at the end of this month. About one in five workers have left the industry since 2010, Pavel Dolk, an expert on the construction from the consulting company KPMG, recently told TK, a local news outlet. Directly accessible data for 170 industries from 50 countries In other East and Central European countries such as Bulgaria, Hungary and Poland the labor costs are even lower. Unemployment rose month-on-month in the Czech Republic but fell compared to last year, and is still the lowest throughout the European Union. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Czech Republic Unemployment Rate is updated monthly, available from Jan 1993 to May 2022, with an average rate of 5.88%. The obvious risk attached to dependency on assembly line work is already manifesting in the form of increasing automation of industrial manufacturing. Under these plans, the government says it will reduce the budget deficit to around 10.8 billion for 2022, compared to the 14.6 billion envisioned by the former governments draft budget that was rejected in December. Please do not hesitate to contact me. 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Credit (USD mn), BoP: USD: FA: PI: Debt Securities: Liabilities (USD mn), MFCR Forecast: BoP: Primary Income (CZK mn), MFCR Forecast: BoP: Goods and Services: Services (CZK mn), MFCR Forecast: BoP: Goods and Services: Goods (CZK mn), MFCR Forecast: BoP: Capital Account (CZK mn), MFCR Forecast: BoP: Current Account (CZK mn), MFCR Forecast: BoP: Secondary Income (CZK mn), Gross External Debt: USD: Long Term (LT) (USD mn), FDI: Flow: SE: Financial and Insurance Activities (CZK mn), FDI: Flow: SE: Wholesale and Retail Trade, Repair of Motor Vehicle and Motorcycl (CZK mn), Foreign Direct Investment (FDI): Flow (CZK mn), FDI: Flow: SE: Real Estate Activities (CZK mn), FDI: Flow: Europe: ow Netherlands (CZK mn), FDI: Flow: Europe: ow Luxembourg (CZK mn), CNB Forecast: Foreign Direct Investment: Flow (CZK mn), Direct Investment Abroad: Flow: Services (SE) (CZK mn), Direct Investment Abroad: Flow: Electricity, Gas, Steam and Air Conditioning Sup (CZK mn), Direct Investment Abroad: Flow: 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mn), Czech Republic GDP: GVA: NACE 2: Real Estate Activities (CZK mn), Czech Republic Hours Worked: Employees: sa (Hour th), Czech Republic BoP: USD: FA: Financial Derivatives & Employee Stock Options: Lia (USD mn), Czech Republic BoP: USD: Current Account: GS: Goods: Debit (USD mn), Czech Republic BoP: USD: FA: DI: Liabilities (USD mn), Czech Republic BoP: USD: Current Account: Primary Income (PI) (USD mn), Czech Republic BoP: USD: Current Account: PI: Debit (USD mn), Czech Republic BoP: USD: Capital Account: Credit (USD mn), Czech Republic BoP: USD: FA: Liabilities (USD mn), Czech Republic BoP: USD: FA: Portfolio Investment (PI) (USD mn), Czech Republic BoP: USD: Current Account: GS: Goods (USD mn), Czech Republic BoP: USD: Current Account: GS: Services (USD mn), Czech Republic BoP: USD: FA: Assets (USD mn), Czech Republic BoP: USD: FA: DI: Assets (USD mn), Czech Republic BoP: USD: Capital Account: Debit (USD mn), Czech Republic BoP: USD: FA: Other Investment (USD mn), Czech Republic 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