Czech Jobless Rate Stable At 3.5% in November, Same as in Previous Month

The Czech Republic’s unemployment rate held steady in November, figures from the labor office showed Friday.

The unemployment rate came in at 3.5 percent in November, the same as in the previous month. Meanwhile, economists had expected the rate to rise to 3.6 percent.

In the corresponding month last year, the jobless rate was also 3.5 percent.

There were 263,226 unemployed people in November, up from 260,641 a month ago.

The labor office reported that by the end of November, job offices had registered a total of 278,708 vacancies, indicating 1,788 less vacancies than in the preceding month.

Minimum wage to increase to CZK 18,900

The minimum wage is expected to increase by CZK 1,600 to CZK 18, 900 from January, Labour Minister Marian Jurečka said at a press conference last Wednesday.

Within a few years, it should stabilize at 45 percent of the average wage.

According to the minister, the minimum wage should start rising from 2025 according to a formula, which is to be regulated by the Labour Code. Four of the eight levels of guaranteed wages should also increase next year.

The proposal will be discussed by the government next week.