In new figures released by Eurostat, the Czech Republic topped a chart of unemployment rates across the European Union with a reported figure of 3.4 percent in January 2017 .
The situation on the labour market has been primarily influenced by the growing Czech economy and availability of seasonal work in construction, agriculture, services, tourism and several other sectors, according to the Office of Labour.
The Czech branch of international recruitment and advisory company, Manpower Group, predicts that the Czech jobless total can shrink even further to a record all time low. Jiří Halbrštát , Manpower’s local marketing and communications manager has concluded the trend as follows.
“The second quarter of 2017 looks very optimistic. Employers have very optimistic hiring plans and these plans have increased in comparison with the last quarter and last year. Unemployment is at the lowest level in Europe and will go under 5.0 percent. We expect another increase of employed people in manufacturing, logistics, construction, and finance and insurance.ʺ
“Currently we are at the levels we had before the crisis of 2008. Employers will have huge problems to find not only qualified staff but also unqualified staff in production and logistics,” says Jiří Halbrštát .
And the good news for the second quarter of 2017 is that the employers surveyed see another drop in the Czech unemployment rate. That’s a bit of a surprise in itself for the Manpower number crunchers because the second quarter is usually one where companies sit on the fence so to speak and weigh up their recruitment needs for the rest of the year.
If the Czech unemployment rate continues on the downward slide, then one question that is begged is at what level it can stop at where must it flatten out and fall no further? According to many economists, an unemployment rate of around 3.0 percent is regarded as somewhere near the bottom line because some people are literally in between jobs, others decide to take time off and pull themselves off the labour market, and some people are just almost unemployable.
In some regions such as Pilsen and Prague, the jobless rate is under 2.5 percent, as people are registered as unemployed but actually doing undeclared or part-time jobs to boost their income.
Reference : Radio Prague