In the fourth quarter of 2020, the job vacancy rate as compared with the previous quarter has increased in both, the Euro Area and the EU. With 5%, Czech Republic was dominating with the number of job vacancies. Along of the highest vacancy rate, Czech Republic has shown 6.5% growth of average gross monthly nominal wage.
In the fourth quarter of 2020, the job vacancy rate was 1.9% in the euro area, up from 1.7% in the previous quarter and down from 2.2% in the fourth quarter of 2019. The rate in the EU was 1.8% in the fourth quarter of 2020, also up from 1.7% in the previous quarter and down from 2.2% in the fourth quarter of 2019. In the euro area, the job vacancy rate in the fourth quarter of 2020 was 1.7% in industry and construction, and 2.0% in services. In the EU, the rate was 1.7% in industry and construction, and 1.9% in services, reads the recent data of Eurostat, the statistical office of the European Union.
Among the Member States for which comparable data are available, the highest job vacancy rates in the fourth quarter of 2020 were recorded in Czech Republic (5.0%), Germany (3.0%) and Belgium (2.9%). In contrast, the lowest rates were observed in Greece (0.5% in the third quarter of 2020), as well as in Bulgaria, Spain, Poland, Portugal, Romania and Slovakia (all 0.7%).
Compared with the same quarter of the previous year, the job vacancy rate fell in twenty-three Member States and remained stable in Denmark, Ireland, Cyprus and Luxembourg. The largest decreases were recorded in Latvia (-1.1 pp), Czech Republic (-0.9 pp) and the Netherlands (-0.7 pp).
In tandem with the high job vacancy rate, Czech Republic recorded a growth of the average gross monthly nominal wage during Q4 2020.
According to the Czech Statistical Office, the average gross monthly nominal wage per full-time equivalent (FTE) employee in the national economy increased by 6.5% during Q4 2020, compared to the corresponding period of the previous year. In real terms, it increased by 3.8%. The median wage was EUR 1, 259 (CZK 32 870).
In 2020, the average wage in Czech Republic reached EUR 1, 364 (CZK 35 611); in the year-on-year comparison, the increment was EUR 57.5 (CZK 1 500) (4.4%). Consumer prices increased for the aforementioned period by 3.2%; the wage increased by 1.2% in real terms.
