(Adds analyst comment)
PRAGUE, Feb 8 (Reuters) - The Czech unemployment rate
rose to 3.9% of the workforce in January, the highest since May
2021 but below a Reuters poll forecast of 4.0%, according to
data released by the Labour Ministry on Wednesday.
The number of job vacancies dropped to 281,141, the lowest
since April 2018, and below the total number of jobless for the
first time since March the same year. Vacancies hit a record
high of 363,917 last February.
"The domestic labour market is gradually being affected by
the cooling of the Czech economy and it can be assumed that the
unemployment rate will continue to increase year-on-year in the
months ahead and that its annual growth will accelerate," said
Radomir Jac, chief economist at Generali Investment CEE.
CZECH UNEMPLOYMENT 01/23 12/22 01/22
% of workforce* 3.9 3.7 3.6
number of available jobless 258,751 247,793 244,815
total number of jobless 283,059 271,803 267,076
Job vacancies 281,141 288,647 351,680
NOTE.
*The indicator shows the share of unemployed people
between the ages of 15 and 64 immediately able to start work
versus all working people in the same demographic group.
The numbers are under national methodology which differs
from Eurostat data. Eurostat figures usually show a lower rate
of unemployment than national figures.
** To monitor in real-time Czech economic data releases in the
Eikon app and view historical data click reuters: reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/Economic-Monitor?g=2E
(Reporting by Robert Muller; Editing by Kevin Liffey)
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