Unemployment in the Czech Republic fell to 3.6 percent in October, according to the latest figures released by the ministry of labor and social affairs. The number of new jobs for the month increased by 1.8 percent. However, economists fear that the oversaturated job market is beginning to stunt economic growth as companies are having an increasingly difficult time finding qualified employees. Jakub Seidler, chief economist at ING Bank, believes the booming labor market will lead to increased household consumption which could cause the Czech National Bank to boost the inflation rate.
