The Czech Republic has the highest number of vacancies in the European
Union, according to Eurostat data.
In the fourth quarter of 2018 the ratio of vacancies to the overall number of jobs in the EU rose from 2.2 to 2.3 percent.
In the Czech Republic it rose by 0.1 percentage point to six percent, the highest figure in the EU. Second in line was Belgium and Germany with 3.4 percent, followed by Austria with 3.1 percent.
Czech energy giant ČEZ has begun the construction of a pipeline running
from the Temelín nuclear power plant to the South Bohemian city of České
Budějovice. The CZK 1.4 billion project is expected to cover 30 percent of
the city’s heating needs once it is finished in 2021. The Czech
engineering and construction company Tenza has been put in charge of the
project, which aims to build two 26km long underground pipelines connecting
the power plant with the city.
It is hoped that thanks to the pipeline the local heating plant will be able to decrease the amount of coal it burns annually by 80,000 tons, lowering the amount of carbon dioxide released into the atmosphere.
Czech household debt reached 2.32 trillion crowns in the last quarter of
2018, according to data released by the Banking and Non-banking Credit
Register on Thursday.
Year-on-year, the debt burden increased by 177 billion crowns, or 8.3 percent. To the contrary, high-risk debt, where clients failed to pay off at least three instalments in a row, dropped by 4.5 billion crowns to 34.6 billion crowns.
One of the main factors behind the increasing overall debt burden is attributed to rising house prices.
Despite the Czech government having no target date for adoption of the common European currency, an increasing number of Czech companies are using the Euro among themselves. According to data released by the Czech Chamber of Commerce, more than a fifth of all payments to domestic suppliers are now carried out in euros.
The unemployment rate fell to 3.2 percent in February, after two straight
months of incremental growth, according to Czech Labour Office. A year ago,
the unemployment rate stood at 3.7 percent.
Some 241,417 people were out of work in February, the lowest number for the month since 1997. The number of advertised vacancies increased to 333,111.
Citing seasonal factors, the head of the Labour Office said unemployment should continue to drop slightly in the coming months, with positions opening especially in the construction, gastronomy, agriculture, forestry and tourism sectors.
The lowest unemployment rate remains in Prague, where 1.9 percent of people were out of work. The highest is in the Moravian-Silesian region, at 4.8 percent.
On Monday, the Czech daily Deník N came out with a story that an official at the Russian Embassy is renting out hundreds of flats owned by the Czech state to tenants in Prague. The flats are available to the Russian state through a decades old agreement, but renting them to third persons may be breaking diplomatic rules.
The Czech economy grew 2.8 percent year on year in the final quarter of 2018, above market expectations, revised data released on Friday by the Czech Statistical Office show. Analysts said it sent a positive signal that domestic growth remains sold despite a downturn in the Eurozone, and in particular Germany, the Czech Republic’s main export market.
The amount of property investment in the Czech Republic went down by EUR
2.62 billion in 2018, a cut back of 30 percent compared to the previous
year, a study by consultancy company Colliers International says.
Transactions also decreased by 27 percent. According to the authors of the
study this is a consequence of the low amount of quality property
investments currently on offer.
Colliers International says it expects this year’s investment rate to remain largely the same as in 2018.
The Czech Republic’s continued economic growth offers an opportunity to intensify its structural reforms, suggests the annual report of the European Commission, assessing the economic and social situation in EU members states. However, it also warns of increasing regional disparities, masked by the continued rise in living standards.
Czech PM tells President Trump he wants to “make the Czech Republic great again“
March 15, 1939 – The day Czechoslovakia ceased to exist
Czech PM says meeting with President Trump is a “restart” in bilateral relations
Czech firms increasingly doing business with each other in euros
Prague tops post-communist capitals in Mercer quality of living survey