Economy / Czech Republic
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Macroeconomic Forecast Czech Republic
June 2008 | Macroeconomic ForecastsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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The local labour market is becoming increasingly tight, with May EU-harmonised unemployment coming in at just 5.0%. This is down from 6.4% in May 2006, and represents just 281,126 available for immediate employment. The lack of a deep readily-available labour pool is not only weighing against the country's ability to attract new large FDI projects, but is keeping upward pressure on wages amid high price pressures. Real wages were up 2.8% y-o-y in Q108, with nominal wages up 10.4%: the fastest rate since Q498. Of particular note is the fact that real private sector wages rose by 4.5% y-o-y, while