Ministry of Labor and Social Affairs said that Czech unemployment rose by 8% in November 2011 from October's 7.9%.

During the month, there were extra 5,786 job seekers registered at unemployment offices, taking the national total of those without work and actively seeking employment to 476,404. The slight rise in the jobless rate had been expected by most analysts with businesses having already declared layoffs and fewer vacancies available to take up the slack.

Mr Tomáš Vlk of Prague based brokerage Patria Finance said that "New employment opportunities are becoming fewer and fewer. The number of new jobs fell again in November and in the last months the promising growth in vacancies seen in the first half of the year has turned around."

He added that given that figures from manufacturing industry in October show employment levels falling for the third month running with production flat, the worsening overall unemployment trend in the Czech Republic is set to continue. MoM, the number of vacancies in November fell by 1,900 to 36, 832, meaning there are just under 13 job seekers for every job.

(Sourced from www.ceskapozice.cz)