The Czech Republic’s unemployment rate held steady at four percent in February, according to data released by the Czech Republic Employment Office (ÚP ČR). This figure, unchanged from the beginning of the year, marks the second-highest February rate since 2017, with only the pandemic-impacted year of 2021 surpassing it. Despite this, the Czech Republic continues to boast the third-lowest unemployment rate in the European Union, maintaining a relatively stable labor market amidst ongoing economic challenges.

With an estimated 296,107 individuals unemployed at the end of February, representing a year-on-year increase of approximately 13,500, Labour and Social Affairs Minister Marian Jurečka (KDU-ČSL) highlighted that these figures align with prevailing unemployment trends. Jurečka emphasized the significance of the unemployment rate remaining at a shallow level, indicating resilience in the face of economic fluctuations.

Comparatively, the unemployment rate in February 2021 stood slightly lower at 3.9 percent, while in February 2022, it was even lower at 3.5 percent. Despite this stability, the number of available jobs increased by 1,796 month-on-month to 268,579. However, this figure reflects a decrease of approximately 14,500 compared to year-on-year data, underscoring potential shifts in labor demand.

Regionally, the Ústecký region reported the highest unemployment rate at six percent, followed by the Moravian-Silesian region at 5.5 percent. In contrast, the Prague region and the Zlín and Plzeň regions recorded the lowest unemployment rates at 2.9 percent and 3.2 percent, respectively, highlighting regional disparities in employment opportunities.

Notably, employers exhibit a keen interest in hiring primary or lower education workers, comprising nearly three-quarters of reported vacancies. Furthermore, two-thirds of available positions are suitable for foreigners, reflecting the Czech Republic’s openness to international talent. The capital city, Prague, emerges as a focal point for job opportunities, with employers offering almost 80,000 vacant positions, signaling robust employment prospects in the metropolitan area.

Article by Prague Forum