Prague - The employment rate has increased in the last quarter of 2007 and compared to the same period in 2006, there is 105.6 thousand more people working now, as the latest report by the Czech Statistical Bureau, released today, says.
It is the highest employment rate in past 11 years.
More than 10,000 people have started their own business during that period of time.
The year-to-year unemployment decreased by 86.5 thousand, and the number of the long-term jobless Czechs has lowered down to 62.3 thousand.
On year-to-year comparison the general level of unemployment between 15 and 64 year-old Czechs has decreased by 1.7 per cent and reached the lowest level since the end of 1997.
There were 252.8 thousand jobless people at the end of the year. It is the lowest level since mid-year 1997.
Construction companies in need of people
The growth of employment occurred particularly in the construction industry, which absorbed more than 73.1 thousand new employees.
However, employment increased most notably in the manufacturing industry, having provided new jobs to 60.7 thousand people.
According to the Ministry of Labor and Social Affairs, the 2007 December unemployment level increased by 6 per cent, while in November it was down to 5.6 per cent. The 2007 November unemployment rate was the lowest in the past nine years.
More people ready to work
The number of people that could be immediately employed increased up to 331.6 thousand.
It still means a year-to-year decline, as at the end of 2006 the unemployment rate was 7.7 per cent.
"The growing unemployment rate toward the end of the year was caused by the end of seasonal jobs in agriculture and construction industry. In the spring time the number of people looking for a job will fall again," stated Aleš Michl, analyst of Raiffeisenbank.
"On the other hand, the estimate says that the job market will soon have 200 thousand vacancies. Companies are headhunting for educated people, but a bit different type than the local high schools and universities produce. For that reason the number of firms that will train their own staff themselves is going to be on the rise. Škoda Auto Mladá Boleslav is a good example," Michl added.
