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There has been a -12.2% drop in the number of job vacancies in the first half of 2013, according to job portal Profesia.cz. The number of CVs posted on the job portal increased +28% during the same period.
The biggest declines, year-on-year, were in telecommunications (-73%), pharmaceuticals (-56%), and the banking sector (-29%), according to Profesia. Increases were most notable for sales professionals (+19%) and in the chemical industry (+6%).
Seasonal summer work has had a positive impact on the unemployment rate; however this is not expected to continue. Once the seasonal period ends and the number of graduates looking for work increases, the unemployment rate is expected to creep up from 7.2% towards 8%, according to bank CSOB (Ceskoslevenska Obchodni Banka).
Of graduates seeking employment, only 24% expect to gain higher salaries after completing further education or training. Of those with higher qualifications, 36% hope it will benefit their career progression. Research by online recruitment company Platy suggests that long-term salaries are influenced by education levels. Employees with only secondary level education can expect their salary to grow at a steady rate for the first five year but then drop by -12% by the end of 10 years, when compared with University graduates.
The current unemployment rate in the Czech Republic is below the Eurozone average of 12.2% and below the European Union average of 11%, according to Eurostat. The Czech Republic has the 7th lowest unemployment rate in the European Union.