Vlach, Jan – Kotíková, Jaromíra
Labour market after crisis
Prague: RILSA, 2019. 47 pp., ISBN 978-80-7416-342-5
Due to the aging population, the number of people in the productive age is decreasing. During the recession (2008-13), the companies did not face labour shortages. Cheap labour has enabled companies installed in the Czech Republic to survive the crisis. The entrepreneurial sphere did not make use of low interest rates to modernise its industrial basis. Firms mostly limited themselves to non-technical and organizational innovations. This was reflected in the partial changes in the structure of unemployment. Friendly local environment has enabled firms to defy technically more advanced competition in the multinational markets thanks to the cost advantage. The subsequent economic expansion after 2013 has revealed the unpreparedness of the economy for the starting digitalisation and robotics, and the firms using the extensive growth strategy hit the limits of labour force size, especially in manual occupations. The high demand for labour and the deformed demand structure resulted in labour cost increase.
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