Czech ILO unemployment edges down to 6.8% in Q4 2013 – stats office.

By bne IntelliNews February 4, 2014

The Czech unemployment rate, measured by the standards of the International Labour Organisation (ILO), edged down to 6.8% in the fourth quarter of 2013 from 7% in the previous three months, the statistics office said. Compared to the same period of 2012, the jobless rate dropped by 0.4pps, after staying flat in Q3.

The number of unemployed Czechs aged between 15 and 64 year fell by 6.4% on the year to 355,400 as of end-2013. In seasonally-adjusted terms it dropped by 12,000 people from Q3 when the number of jobless Czechs declined by 600. The annual decrease reflected a fall in the number of jobless men (down by 16,100), while unemployed women were by 8,000 fewer than in Q4 2012. The number of Czechs, who have been unemployed for more than one year, went down by 12,000 y/y to 150,100, accounting for 42.2% of total, down from 43.7% in Q3.

Unemployment among university graduates stood low at 3% in Q4 and among Czechs with secondary education varied from 5.4% for those with A-level examination to 7.8% for the ones without A-level examination. Some 23% of the Czechs with basic education were jobless in Q1.

The ILO measure of unemployment assesses the number of jobless people who are actively seeking employment. Jobless data for the Czech Republic is also published by the labour ministry. According to the latest data by the ministry, the unemployment rate in the country increased to 8.2% in December 2013, posting its highest level for full-2013.

According to the January 2014 edition of the ILO’s Global Employment Trends report, unemployment in the Czech Republic should remain steady at some 7% in 2014 and 2015. In the following three years it is seen slightly easing and reaching 6.6% in 2018.

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