The Czech labor market continues to thrive, and the number of available positions is at an all-time high

While it is true that the unemployment rate in the Czech Republic has slightly risen in July due to seasonal fluctuations, the labor market is still thriving, and the number of available positions is at an historical all time high.

This rise derives from various seasonal factors that recur every year, such as low recruitment during the holiday season in early July, entry into the market of university graduates, and more. As expected, in July the unemployment rate in the Czech Republic rises (see attached figure) as it did this year. In July 2018 the unemployment rate in the Czech Republic rose from 2.9% to 3.1%. Even so, this is a very satisfactory unemployment rate. By the way, the unemployment rate in Prague itself is near zero (!).

The number of available positions in the Czech Republic has reached an all time high

In spite of the rise in the unemployment rate, the number of available positions is at an all-time high – 310,000 jobs. In comparison to the same period in the previous year, this represents an addition of around 122,000 job, in other words 71,500 fewer unemployed – a decline of 23.6%. what this means is that since April 2018, the number of available jobs in the Czech Republic has outstripped the number of job seekers.

Another happy fact is that the long term unemployment in the Czech Republic is constantly declining. For example, the number of jobseeker who are unemployed for over 5 months has declined by 32.6%, in other words 57,600 people less than in the equivalent period in the previous year.

And what does the future hold?

The number of unemployed in the Czech Republic is the lowest in Europe, for several reasons. In any event, the unemployment rate has reached such low levels that it is projected to decline more slowly than in the past.

Thinking of working in the Czech Republic? This is for you