Mar 09, 2024

Czech Unemployment Holds Steady at 4%, But Job Vacancies Decline

Despite a slight rise in the number of unemployed people, the Czech Republic’s unemployment rate stayed unchanged at 4% in February compared to January, according to data released by the Czech Labor Office.

While the number of unemployed individuals increased slightly by 561 to 296,107, job vacancies also went up by 1,796 to 268,579. However, analysts warn of a potential economic slowdown due to a decrease in job vacancies compared to the previous year.

“The decline in job vacancies suggests a drop in demand across various sectors,” noted Miroslav Novák, an analyst at Akcenta.

Despite this concern, experts predict the unemployment rate will remain below 4% for the rest of 2024. They attribute this to cautious employers and a generally positive economic outlook.

Ústí nad Labem Region has the highest unemployment rate at 6%, while Prague boasts the lowest at 2.9%. Most job openings require basic education levels, and around two-thirds are suitable for foreign candidates.

Prague leads in job demand, offering nearly 80,000 vacancies.

On International Women’s Day, the gender gap in the labor market came into focus.

Analysts highlighted the higher unemployment rate faced by women compared to men. Martin Jánský, General Manager of Randstad Czech Republic, emphasized the need to address these inequalities, including wage gaps and the uneven distribution of household responsibilities.

In a short speech, President Pavel said that more than 100 years since the struggle for equal rights for women began, it still cannot be said that women hold an equal position to men in Czech society.

He mentioned in particular the areas of domestic violence, the gender pay gap, and the lack of women in top positions in business and politics.

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