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Czech Unemployment Drops to 3.6%

Unemployment in the Czech Republic saw a decrease in May, dropping to 3.6%, a 0.1 percentage point decrease from April.

As reported by the Czech Labor Office, there was 5,756 fewer jobless individuals in May, with a total number of unemployed persons standing at 274,322. Despite the decline in unemployment, there is still a higher demand for jobs than vacancies available. Compared to the previous month, the number of job openings fell by 1,529, bringing the total to 266,517.

The current unemployment rate for May aligns with long-term trends and expectations, as the warmer months typically bring about lower unemployment due to the commencement of seasonal work. Apart from seasonal jobs, particularly in construction, the gradual start of the summer tourist season also contributes to this reduction.

Interestingly, the spring wage increase has also contributed to the decrease in unemployment. The wage increase has resulted in employees showing less inclination to switch jobs. Surveys indicate that although many expressed the desire to change jobs in January, the wage increase in March and April led many to reconsider.

Source: Czech Daily

Prepared by the team of foreign offices CzechTrade Osaka and Tokyo