According to Komercni banka, Czech GDP increased 0.5% qoq in 3Q17 according to the flash estimate of the Czech Statistical Office (CZSO). This represents a significant deceleration after the 2.5% recorded in 2Q. Yoy growth in the third quarter printed a strong 5%.
Eurochambres/HK Economic Survey 2018: Czech businesses mostly concerned about shortage of qualified workforce, labour costs, regulatory burden and economic & political conditions
According to the Czech Economic Chamber (HK), contributor of data for the Czech Republic, the expectation of Czech businesses for 2018 are more optimistic than the rest of Europe. Number one concern is lack of qualified workforce.
ABSL J. Appleton: 'We are working hard to develop other cities like Olomouc, Plzen, Hradec Kralove, Usti.'
The business services sector continues to grow rapidly in the Czech Republic. The number of centres has risen by 10% and the number of employees in this segment has risen by 19% year-on-year. A total of 220 companies providing business services worldwide from the Czech Republic now employ 89,000 people and contribute 5% to the GDP in the Czech Republic, Association of Business Services Leaders (ABSL) says.
Mentioning the issue of a minimal salary is like lighting a fuse – and not only among economists. A simple textbook labour market model says that a minimal salary may lead to involuntary unemployment if it is set too high. Nevertheless, in reality, the labour supply and demand curves are not straight lines. Empirical studies about the effects of a minimal salary on unemployment do not yield clear results. In a situation where a certain sector is dominated by a single employer (a local monopsony), the negotiating terms between the employer and job applicants are unequal and a minimal salary is a response to the situation.
Do you want to have a good overview of salaries in Prague, Brno and Bratislava? Read CPL Salary Survey 2017 which is focused on the fields of Finance & Accounting / Procurement, Supply Chain & Logistics / IT / Engineering / HR & Office Administration.
Strategic Directions for Czech Economic Policy
- 1) The home of value-added manufacturing
- 2) Prague-Brno-Ostrava Creative Triangle
- 3) Health Care as an export industry
- 4) Government as a competitive advantage
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.