The future of the Czech labour market
The Boston Consulting Group and the Aspen Institute Central Europe, a non-profit organization, presented a unique model of the Czech labor market development on Wednesday, August 24, 2022, at a press conference. Model worked with local factors, top 10 global tendencies and an analysis of 131 professions in 31 sectors. Study named “The Future of the Czech Labour Market” predicts the development of the labour market till the year 2030 and highlights the main changes that will affect the next decade. The study also provides specific proposals for the state administration, companies and employees to ensure that the Czech Republic will successfully cope with the upcoming challenges.
The full study with a detailed outlook to 2030 and the main trends that will affect the labour market in the next decade can be downloaded in the link below.
The Czech economy, except for the year 2020, has been growing in the range of 3-6% per year. Further GDP growth will be hampered, in addition to the current high inflation, mainly by the lack of an effective labour force (in simple terms, a combination of the education/skills factor and the gross quantity of labour). Apart from the already existing shortage of workers, which will continue to increase due to demographic developments, the structure of the labour market will change significantly: some positions will disappear and new ones will appear.
Unless the government, employers and employees take active steps to adapt to these changes, the Czech economy risks losing competitiveness, increasing unemployment and slowing growth.
Which jobs will disappear and which will newly appear on the market?
Where should we take the missing workforce from?
What will have to be done in terms of retraining and what measures will need to be taken to cope with the coming labour market transformation without major negative effec