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Financial News: Czech Unemployment Rate Lowest In 3 Months

Czech Unemployment Rate Lowest In 3 Months

04/07/2021 - 05:18:00 (RTTNews)

(RTTNews) - The Czech Republic's unemployment rate eased in March to its lowest level in three months, preliminary data from the labor office showed Wednesday.

The jobless rate fell to 4.2 percent from 4.3 percent each in January and February. The easing was in line with economists' expectations. In December, the rate was 4.0 percent.

In March last year, the rate was 3.0 percent.

The number of unemployed was 306,616 in March, which was 4847 persons less than in February, but 80,938 persons more than in the same month last year.

In March, 288,355 unemployed were actively seeking jobs.

The number of vacancies rose to 338,862 in March from 330,700 in the previous month.

The ILO jobless rate of the Czech Republic in February was 3.2 percent, which was the second lowest in the EU.

The labor market situation is stable and unemployment is relatively low despite the pandemic, the labor office said. The number of vacancies exceeds the number of job-seekers, the office added.

That said, the disproportionate nature of the economic crisis persists in the labor market, the agency noted.

Sectors such as travel, tourism, gastronomy, services, trade and culture remain severely hurt by the lockdown restrictions linked to the coronavirus pandemic. Meanwhile, sectors such as manufacturing, health or social care are facing labor shortages.

"With the advent of spring, seasonal work is starting," Labor Office General Director Viktor Najmon said.

"Employers are currently looking for, among other things, new employees in agriculture, forestry, construction, logistics or e-shops."

There is also demand for skilled craftsmen and production workers and cities and municipalities are showing a growing interest in public workers, the official added.

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