EURUSD 1.1332 USDJPY 110.63 USDCAD 1.3148 EURCZK 25.640 USDCZK 22.616 EURPLN 4.3309 USDPLN 3.8230
EURUSD 1.1332 USDJPY 110.63 USDCAD 1.3148 EURCZK 25.640 USDCZK 22.616 EURPLN 4.3309 USDPLN 3.8230

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Unemployment reflects the social and economic conditions in the Czech Republic

Country:CZ
Impact:medium
Current value:7.9
Last value:8.3
Change: 0.4 Loss
Minimum value: 0 (0st quarter of -0001)
Maximum value: 8.6 (1st quarter of 2014)
Unemployment rate

Rule of thumb

Unemployment, along with GDP growth and inflation, is one of the main factors that
characterises the economy of  the country

The unemployment level is one of the most sensible economic indicators from  a social point of view. An increase in unemployment decreases the level of  disposable funds available to  individual households, as well as the overall conditions of living.

 

Rising unemployment may also put some pressure  on the government to spend more, in order to provide the boost for the creation of  new work places. The unemployment rate is also called the registered unemployment rate, as it includes the number of job applicants out of work who are registered by  labour offices.

 

One key characteristic of  unemployment is that it is not short-term reactive. In other words, after an economic downturn, it is natural to see an increase in unemployment. However, once the economy recovers, the high level of unemployment may prevail as employers remain cautious on hiring - it may take some months before unemployment rates fall again.

 

A rise in  unemployment may indicate that companies are reducing personnel, possibly due to worsening economic conditions. In general this is one of the factors for a potential depreciation of the local currency.

 

Periodicity of publication

The registered unemployment rate is published by the Czech Statistical Office  on a quarterly basis around 2 months after the reference period.

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