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Record-low Czech unemployment

Staff Writer | October 9, 2017
The Czech unemployment rate fell to 3.8 percent in September to match an all-time low and inflation was the fastest in five years, cementing expectations interest rates will rise once more this year.
Czech unemployment
Europe   3.8 percent in September
The Czech National Bank (CNB) lifted rates in August for the first time in almost a decade and voted narrowly to hold off on further monetary policy tightening when it met on September 27.

"A November hike... is a done deal," Raiffeisenbank chief economist Helena Horska said.

"The question remains how many times the CNB will raise rates next year. We expect it to move twice, to 1 percent."

Czech unemployment is the lowest in the European Union under Eurostat methodology. Labour Ministry data on Monday showed joblessness matched a record low hit in the middle of 2008 before the global financial crisis struck.

Job vacancies climbed to above 200,000 and are 46 percent higher than a year ago.