Czech Republic Faces Largest Workforce Decline Since WWII
The Czech Republic is facing a historic labor crisis. Each year, the country may face a shortfall of 70,000 workers, as retiring generations outnumber those entering the workforce. According to Jaroslava Rezlerová, CEO of ManpowerGroup Czechia, about 120,000 people retire every year—but only 90,000 young workers replace them. The gap of 30,000 is forecast to more than double within a decade, leading to an aggregate annual loss of up to 70,000 workers. The Czech Statistical Office reports that the share of people aged 15 to 64 will first stagnate and then decline. The steepest drop is expected among those in their 40s and 50s, with this group’s share shrinking from around 64% to 56.6% over the coming years. Tomáš Dombrovský, from Alma Career (the owner of Jobs.cz and Práce.cz), warns that many firms are unprepared. As more workers age into middle and later stages of life, he says, “the moment companies begin to reject them, we will have a big problem.” Foreign Workers: Partial Solution, But Not Enough Foreign labour has helped cushion the blow. Refugees from Ukraine have filled gaps, but mostly women have arrived, while male migration has declined. Meanwhile, wages in neighbouring countries like Poland, Romania, and...
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