Unemployment Rate in Czech Republic Dips to 3.5%

In a recent update from the Labour Office, the unemployment rate in the Czech Republic fell to 3.5% in October, down from 3.6% in September. Over 260,000 individuals were actively looking for work in October, 2,379 fewer than in September. Simultaneously, the number of available positions dropped slightly, with approximately 280,500 jobs available, nearly 1,500 less than the previous month. This puts the Czech Republic’s unemployment rate at the lowest within the European Union.

The job market saw a high demand for employees in the manufacturing and construction industries, and there has been a long-term demand for skilled tradespeople. Seasonal agriculture, forestry, food production, and trade jobs are also in demand. As these positions decline in the coming months, the Labour Office anticipates a rise in unemployment, a standard curve in employment trends.

Historically, the Ústecký region has the highest unemployment rate, which reached 5.4% in October. On the other hand, four regions reported the lowest unemployment rates: Zlínský, Vysočina, South Bohemia, and Plzen, each with 2.6%.

In October, there were 0.9 job seekers per vacant job in the Czech Republic. The most significant job market oversupply was in Karvina, with almost ten job seekers for one position. In contrast, the Mladá Boleslav region had the least unemployed about job offers, with 0.2 job seekers per position.

The number of people on the job centers’ records also includes unemployed individuals who cannot immediately start work. For example, people on retraining courses, unemployed women on maternity leave, prisoners, or unemployed people incapable of work. The so-called reachable job seekers aged 15 to 64, who could immediately start employment totaled 237,303 in the Czech Republic in October.

In October of last year, the unemployment rate in the Czech Republic was the same as it is now: 3.5%. At that time, 255,792 people were unemployed, with 297,360 job openings.