The Economy of Czechia
Labour Shortages and Foreign Workers
Low unemployment and an ageing population make it hard to find workers, so firms recruit from Ukraine and other countries.
A tight labour market.
Low unemployment
Czechia often has the EU’s lowest unemployment rate.
Migrant labour
Many workers come from Ukraine, Slovakia and elsewhere.
Wages
Wages are below those in Germany but have been rising.
Ageing
The workforce is shrinking, pushing firms to automate.
A factory hire
A plant recruits workers from abroad to fill night shifts.
Assuming low wages will stay low
Shortages push wages up.
Key takeaways
- Unemployment is very low.
- Migrants fill many jobs.
- Wages are rising.
- Automation is spreading.
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