Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  March 08, 2013 10:33:19

Unemployment is a major problem in employment and not in release


iPoint.cz Number of job seekers registered with employment offices in February increased by almost another 8,000 to 594,000 people. Unemployment has reached a new high. The share of unemployed in the total population aged 15-64 years rose to 8.1 percent, after seasonal adjustment, this indicator is 7.5 percent. According to the indicators previously used by the registered unemployment rate reached 10.2 percent.

The winter months labor wish. The most significant negative seasonal effect evident in the construction, while construction work hampered snow cover and temperatures well below freezing. However, the significant influence of the recession in the economy. Seasonally adjusted unemployment figures for the past 17 months worse. The long-term cyclical unemployment is gradually becoming the structural problem even after economic recovery may no longer be a fall in unemployment in the values ??that we have become accustomed to seeing before the crisis. Fight against the economic policy of structural unemployment is much more difficult than dampen cyclical unemployment.

Detailed view of the data reveals that the labor market is now not so much worried about layoffs as low vacancy rates and difficulties in finding work for the unemployed. In February, lost their jobs, respectively. the newly registered at labor offices, around 45 thousand. people. This is the lowest value in February since 2008. Number of vacancies, however, remains relatively low, the end of February, there were less than 35,000 and one free space reported 17.14 job seekers.

Given the expected development of the Czech economy can unfortunately expect turnaround in unemployment is likely to improve until the end of the year or next year.

David Marek, Patria Finance


Unemployment in February climbed to the next maximum. Without the work is nearly 600,000 people. After January eight percent up again, but this time it is not so much increase. Nevertheless reached 8.1%. The number of people without work and is above the psychological threshold, which, according to the old methodology ten percent. The labor market is the growth rate to know, and not only there. A large number of unemployed is only worried about the state in the form of payment of unemployment benefits, but also traders and dealers. People have less money to spend and in regions with high unemployment it is visible.

The February result should be the maximum for this year, then they will not increase unemployment. In March it will begin slowly seasonal work, which should absorb some of the people without jobs. Situation, but definitely not the best because this year will be mainly for the construction year of purification. It is this field can well absorb people with less education or those who have been unemployed longer. In February but surprised by the results of unemployment in Prague. The city where unemployment is traditionally low, experienced the largest increase in jobless compared with January. It was about 3%, while the national average was only 1.3%. Yet still on Prague well. In comparison with the entire Republic of unemployment is almost half (4.6% in Prague, Czech Republic 8.1%). A sad record still holds districts and Jeseník Bruntál.In Jeseník is the most applicants for one job - 130 and is the largest Bruntálu unemployment - 14.1%.

The annual result so far shows that the situation is not good. In February 2012 it was out of work by contemporary methodology 7.2% of people, which is 0.9 percentage points less. In absolute numbers, this means that the number of unemployed rose from the previous year by 52,000 to 594,000. Nevertheless, the boundaries of 600,000 people out of work this year should not be exceeded, even though it is now almost within reach.

So many people out of work is a response to industry, construction and agriculture to the overall economic downturn. Last year, the economy declined by 1.1% and thus reduce company costs. First, the agency employees, then reached into their own ranks. No big mass layoffs did not take place or not take place.But companies often have a ban on recruiting new employees and must make do with the current capacity. Therefore, for voluntary dismissal and finding a new job is not the ideal time. But not in all sectors. Many companies can not find workers who would like to work on a long-term positions as telephone operators, drivers, or as craftsmen (carpenter, plumber, etc.).

Regards,

Ing. Michal Kozub

Analyst

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