The Czech Republic is experiencing its highest unemployment levels since April 2017, with February figures revealing 326,223 people without work – an increase of 5,707 from January. The unemployment rate has climbed to 4.4 percent, marking the fourth consecutive monthly increase and raising concerns about the country’s economic resilience.
Daniel Krištof, Director General of the Labor Office, maintains an optimistic outlook despite the trend. “While we’re observing a gradual increase in unemployment, spring seasonal work will help mitigate these numbers, particularly benefiting male workers. The Czech situation remains favorable in the European context,” he noted. A silver lining emerges in the form of job availability, with vacant positions increasing by over 5 percent compared to January.
Regional disparities paint a telling picture of the country’s employment landscape. While Prague boasts a mere 2.9 percent unemployment rate, the Ústí region struggles with 6.6 percent. The job market shows particular demand for construction workers, forklift operators, warehouse staff, chefs, and truck drivers, primarily concentrated in Prague and the Central Bohemian region.
Experts, including Pavel Sobíšek from UniCredit Bank, attribute February’s numbers to both seasonal factors and weakened economic performance, particularly in the industrial sector. Looking ahead, while seasonal work is expected to temporarily reduce unemployment figures, Bank Creditas analyst Petr Dufek projects a year-end unemployment rate of 4.5 percent, suggesting continued challenges ahead.