Unemployment

4.96 % (May 2026)

Unemployment Rate (registered unemployed, SA)

3.20 % (May 2026)

General Unemployment Rate (trend cycle)

Commentary by the Czech Banking Association (ČBA)

We estimate that in May 2026, the seasonally adjusted registered unemployment rate rose to 4.96% from 4.93% a month earlier. According to data from the Labor Office, the unadjusted unemployment rate reached 4.8% in May, 0.1 percentage points lower than the previous month. The month-over-month trend in the unadjusted unemployment rate in May thus reflects its seasonal decline despite a slight cyclical deterioration in the labor market.
Year-over-year, the May unemployment rate is 0.6 percentage points above the 4.2% level recorded in May 2025.
In 2025, the unemployment rate reached 4.4%, and this year’s average so far stands at 4.9%. Compared to the start of Russia’s invasion of Ukraine, the unemployment rate is thus 1.7 percentage points above the 3.3% level from the first quarter of 2022 and is 2.2 percentage points higher than the pre-COVID average of 2.8% in 2019. Since 2005, the registered unemployment rate, according to our seasonally adjusted estimate, reached its lowest level of 2.7% in January 2020, while its highest level of 8% was recorded in January 2014.
The different concept of the sample unemployment rate, as measured by the Czech Statistical Office (ČSÚ), reached 3.2% in May 2026 as a trend-cycle measure (more thoroughly adjusted for seasonal factors) compared with 3.2% in the previous month and 2.9% a year ago. In 2025, this average general unemployment rate, according to the CZSO survey, stood at 3%, and so far this year, its average level has reached 3.2%. Since 1993, this sample-based unemployment rate has ranged from a low of 2% in February 2019 to a high of 9.3% in January 2000.

Unemployment

(%)

CBA Monitor

You can hide a data set by clicking on the data set name in the chart legend.

Source of primary data

Czech Statistical Office (selection). Employment Office (registration)

For download:

Slight economic slowdown in late 2025 and this year is poised to repeat last year's 2.5% growth

30. 01. 2026

Comment by Jaromír Šindel, Chief Economist of the CBA: Economic growth slowed down at the end of last year, but still achieved solid 0.5% quarter-on-quarter GDP growth.The structure of growth has not changed significantly - consumption is dominant, which is probably not true of investment. This is in line with the latest sentiment data. A more positive sign is improving productivity. The outlook for this year is a repeat of last year's 2.5% growth, thanks to a better outlook for real wage growth and a change in fiscal policy. Conversely, weaker external demand, even given industrial sentiment, is likely to be a drag on stronger economic growth.

The Easing of November consumer inflation to 2.1% is not just about food

10. 12. 2025

Comment by Jaromír Šindel, Chief Economist of the CBA: November consumer price growth did not slow to 2.1% year-on-year only thanks to volatile food prices, which were lower in November. The slowdown in core inflation to 2.6% was probably also due to lower prices for holidays, clothing, household furnishings, as well as lower prices in healthcare and energy. This, and November's move closer to the price inflation target for both headline and core inflation, eases hawkish pressures on the central bank. However, the continued brisk momentum in rent and food and other service prices will not allow the central bank to contemplate an interest rate cut.

October consumer inflation at 2.5% and continued rise in unemployment keep CNB on tenterhooks

11. 11. 2025

Comment by Jaromír Šindel, Chief Economist of the CBA: October consumer inflation not only confirmed a more pronounced shock from higher food prices, but also showed higher prices of transport services and prices of means of transport as part of core inflation. In the longer term, it is worth noting that imputed rental prices have already caught up with the previous inflation shock, and the same has been true for a few months for holiday prices. Thus, the higher October inflation and unemployment data will not help the central bank or the market resolve its dilemma of the next interest rate move.

July details of softer headline and core inflation look promising, registered unemployment less so

08. 08. 2025

Economic commentary by Jaromir Šindel, Chief Economist of the CBA (adjusted for published data on core inflation from the CNB and registered unemployment data, 18:00 8 August)