Czech Republic: Unemployment stagnated in October

Actual (Oct): 8.5 %
Consensus: 8.3 %
Previous (Sep): 8.5 %

Although the number of unemployed people decreased slightly, it was not enough to push the unemployment rate lower. The Octorber figure is worse than expected as the usual seasonal drop in unemployment has not came. The number of the newly registrated unemployed is rather low, but on the other hand people were less successful in finding job. School leavers and graduates seem to be facing problems as unemployment in this group decreased only slightly. Number of vacancies was lower than in the previous month. The October data show that the labor market is not improving as fast as the previous figures suggested. However, the unemployment rate is expected to decline next month. The end of the year should though bring a seasonal rise of the figure.