Czech unemployment rate edges down to 8.3% in March 2014, touch below expectations

By bne IntelliNews April 8, 2014

The unemployment rate in the Czech Republic edged down to 8.3% in March 2014 from 8.6% the month before thanks to the start of seasonal work and the recovering economy, data from the labour ministry showed. The reading was a touch below market expectations of 8.4% according to a CTK poll. In annual terms the jobless rate was higher by 0.3pps. The indicator shows the share of jobless people aged between 15 and 64 and immediately able to start work versus all working people in the same demographic group.

Unemployment among women ticked lower to 8% in March from 8.2% the month before and among men it fell to 8.6% from 9%.

The number of jobseekers stood at 608,315 as of end-March, down by 17,075 from at end-February but by 20,547 more than in the same month of 2013. The number of available job seekers, showing how many people registered as unemployed by labour offices are able to start work shortly, in the 15-64 age group, stood at 592,705 in March, down from 610,729 in February.

Job vacancies in the third month of 2014, on the other hand, increased by 2,507 on the month and by 1,945 on the year to 40,808. Thus, there were 14.9 jobseekers per vacancy, down from 16.3 in February.

IntelliNews comment: The unemployment rate in the country of 10.5mn averaged 7.7% in 2013. It hit high levels in the first two months of 2014 but in March started to fall down with the start of seasonal work helped by the warmer weather. We expect the number of jobless Czechs to continue falling in the months to come as the economy is gaining strength after exiting a record-long recession last year. Earlier this week the finance ministry reached a deal with New World Resources (NWR) that will preserve the jobs of more than 2,000 miners for a few more years. NWR was initially planning to close its loss-making mine Paskov by end-2014 but agreed to keep it open until 2017 after the finance ministry said it will provide CZK 600mn (EUR 22mn) to finance a social programme for the miners that will ultimately lose their jobs.

Related Articles

Poland isolated again as it threatens to block EU declaration

Poland will not sign the Rome Declaration if its demands for moulding the EU’s future are not reflected in the document, Prime Minister Beata Szydlo threatened on March 23. The statement could ... more

EU asks CEE to comment on Russian gas promises

The European Commission has invited comments from Central & Eastern European states on proposals put forward by Russian gas giant Gazprom to meet competition concerns. Visegrad and the Baltic ... more

Poland struggles in bid to oust Tusk

The Polish government spent March 6 canvassing for support for its alternative candidate for the European Council presidency to compatriot Donald Tusk. However, it met little success, even in its own ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss