Current Affairs Expiring textile industry raises unemployment rate
Of the country's population of ten million, 541,675 were out of work in December 2004. In the last month of the year, the unemployment rate shot up to 9.5 percent from 8.9 percent in November. But while this development has made front page headlines, economists say there is no cause for concern and expect the rate to continue to rise and peak in February. Seasonal factors - the lack of seasonal jobs in agriculture or construction for example - cause unemployment to increase every winter. But, as the chief economist at Next Finance, Marketa Sichtarova, tells Dita Asiedu, the Czech Republic needs to beware of another important development:
Photo: European Commission
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