The Boston Consulting Group’s Labour Market Study for the Aspen Institute, with projections to 2030, points to a long-term shortage of effective labour in the market, which is likely to be exacerbated by a number of factors in the years ahead.
Which jobs will disappear and which will re-emerge in the market?
Where to fill the labour gaps?
What will need to be done in terms of retraining and how to grasp the changing labour market?
The Czech economy, with the exception of 2020, has been growing in the range of 3-6% per annum in recent years. In addition to the current high inflation, further GDP growth will be hampered 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). In addition to the already existing labour shortages, 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 state, employers and employees take active steps to adapt to these changes, the Czech economy risks losing competitiveness, increasing unemployment and slowing growth.
Download the full study with a detailed outlook to 2030 and the main trends that will affect the labour market in the next decade here:
DOWNLOAD THE STUDY
