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ISSN (online): 1805-9112

Research ArticleOpen access

Development and Forecast of Unemployment in the Czech Republic in Comparison with EU Countries

Kateřina Jíchová1*, Jozef Adamko2

  1. Institute of Technology and Business, School of Expertness and Valuation, České Budějovice, Czechia
  2. Institute of Technology and Business in Prešov, Faculty of Economics, Prešov, Slovakia

* Corresponding author.

Abstract

The aim of this thesis was to evaluate the development of unemployment in the Czech Republic, compare it with neighboring countries, and subsequently predict its future development. To achieve this goal, time series analysis, the Prophet prediction model, and correlation measurements supplemented by a graphical representation of the Beveridge curve were used. The results showed that the Czech Republic has long been one of the countries with the lowest unemployment rates in the region, with future developments indicating a slight downward trend and a significantly indirect relationship between unemployment and job vacancies. These findings contributed to a better understanding of the dynamics of the Czech labor market. However, the research is limited by data availability, time constraints, and the dependence of predictions on the stability of the economic environment, which opens up space for further studies focused on other regions or more detailed structural analyses.

Keywords:UnemploymentCzech RepublicEuropean UnionProphetBeveridge curvejob vacanciesregional comparisons

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