Analysts warn unemployment in 2012 might exceed 10 percent

28-12-2011

Analysts and trade organizations approached by the ČTK news agency predict that the unemployment rate in the Czech Republic next year might exceed ten percent. That is two percent more than official unemployment figures released by the Labour Ministry in November. The construction industry, employing some 400,000 people, is expected to be the worst affected. According to an optimistic scenario, suggested by most respondents, the average unemployment rate will be around nine percent, and only exceed the ten percent level in certain months. However, should the problems in the euro zone intensify, firms might effect more layoffs.