Prague, April 8 (CTK) – The Czech Republic’s unemployment rate decreased to 3.5 percent in March from 3.7 percent in February, according to estimates of analysts approached by CTK.
The drop was caused by economic growth together with demand for employees and start of seasonal jobs.
The Employment Office will release employment data for March on April 10.
The winter seasonal growth in unemployment stopped in March and the unemployment rate returned to its more than 20-year lows, according to estimates of Raiffeisenbank analyst Jakub Cervenka.
The ongoing economic expansion demands another employment increase, Komercni banka economist Viktor Zeisel said.
The labour market situation remains tense and the shortage of employees is currently the largest barrier to industry growth, he said.
Last year’s trends on the Czech labour market will be highlighted in the following months, Akcenta company analyst Miroslav Novak said.
Considering companies’ unceasing interest in more employees, the number of job vacancies might exceed the number of those unemployed as soon as May, which was completely unthinkable in the previous years, Novak said.