ANALYSIS OF THE SHARE OF UNEMPLOYED PERSONS IN FIVE CZECH REGIONS WITH THE FOCUS ON THE IMPACTS OF THE COVID-19 PANDEMIC ON THE LABOUR MARKET
Abstract
With the aid of an analysis of the following indicators - Share of unemployed persons, Non-Accelerating Inflation Rate of Unemployment (NAIRU) and Unemployment gap - trends of the labour market in the national economy and selected regions from 2005 until 2020 were described. Main goal of this work was to identify the effect of government responses to the coronavirus on economy in 2020.
One of the finding was the arrival of another recession in 2020 in all of the regions. The economic development in 2020 corresponded with the government responses.
There were some differences between the regions regarding the intensity of the growth of NAIRU and the Unemployment gap. The highest numbers were identified in the Karlovy Vary Region and the lowest in Prague.
The Karlovy Vary Region was a leading indicator of the labour market development: it was always the first region, where a negative unemployment trend was present.