Unemployment in Czech Republic expected to peak in June

Interview

Unemployment in the Czech Republic has only seen a slight increase so far, despite the considerable impact of the coronavirus crisis. The unemployment rate in May rose by only two tenths to 3.6%, as compared to the previous month, Czech Radio reports. 

At the end of May, 266,144 people were out of work, 12,104 more than in April. However, analysts warn that the main impact of the recession on the labor market is yet to come, Czech Radio says.

According to Labor Minister Jana Maláčová, the unemployment figure should peak in June since redundancies are running in many companies, with a standard two-month notice period. 

ADVERTISEMENT

Growth plans and inflation uncertainty in European companies Analysis

Growth plans and inflation uncertainty in European companies

Lawmakers postpone expanded data provision for tourism secto... Parliament

Lawmakers postpone expanded data provision for tourism secto...

MNB and Budapest Institute of Banking executive director Ger... Podcasts

MNB and Budapest Institute of Banking executive director Ger...

FINA head thanks Hungary for hosting 2022 worlds City

FINA head thanks Hungary for hosting 2022 worlds

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.