Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  January 09, 2013 11:36:54

Comments unemployment - under the weight of recession and seasonality

The unemployment rate last month rose from 8.7 to 9.4 percent. For the past 12 months has risen by three quarters of a percentage point. The share of the unemployed population, the newly introduced indicator in December rose to 7.4 percent from November's 6.8 percent.

The increase in unemployment in December had the impact of seasonal factors. Before the end of the year is usually neither too new employees. Last month, he started his new job only 11 thousand. persons in January-November, it was an average of three times. At the same time in December in increasingly permeable, last year before the end of the work lost 60,000 people.

However, everything can not be blamed on the debit seasonal fluctuations. Quite noticeable is the influence of economic recession. The seasonally adjusted unemployment rate rose a tenth of a percentage point to 9.1 percent and reached its highest level since the end of 2010. In addition to layoffs, recession manifested also by the low number of newly created jobs.In December there were available to almost 35,000. Per vacancy now accounts for 15.6 jobseekers, last year was 14.2. For comparison, before the crisis, in 2008, exceeded the number of seats to 150,000.

Unemployment data provide clear evidence of the recession in the Czech economy. Rising unemployment and falling real wages are the main causes of declining household consumption. Unfortunately, this year probably will not change for the better. The unemployment rate this year should be an average of 9.3 percent, last year's average reached 8.6 percent. Turnaround in the labor market nesjpíše harvested over the year 2014. 


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