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July 20th, 2008
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Strong crown keeps workers at home

Number of UK job seekers drops 50 percent

April 16th, 2008 issue

(Updated April 18, 2008) Fewer workers are looking outside the country for jobs, since the Czech crown is so strong against other currencies, Lidové noviny reported Friday.

One of those workers is Lenka Pánská, of Brno, a former Dublin bar attendant. When she started the Ireland job a year ago, Pánská figured she was making about 242 Kč ($15.35) per hour, based on the exchange rate. These days she would make just 200 Kč per hour. Based on the almost 20 percent drop in the exchange rate, she decided to return home and find a job in the Czech Republic.

At the same time, average wages in the Czech Republic are rising rapidly. The average monthly salary in Prague in December, for example, was 22,000 Kč, according to information from the Czech Statistical Office.

Workers from Romania and Bulgaria are willing to work for lower wages than the Czechs are when they move to foreign countries, so employers have no reason to offer more money, the newspaper reported. But those wages are not as appealing for Czechs anymore, it said.

In the United Kingdom, the number of Czechs seeking work has dropped nearly 50 percent in recent months, according to job agencies there.

In straight numbers, a lot has changed as the Czech exchange rate has gotten stronger. A UK restaurant’s average hourly wage was about 8.65 euros a year ago. That meant an hourly wage of 242 Kč.

On Monday, when the crown hit a new record high against the euro, 1 euro was worth just 23 Kč. Based on that exchange rate, the average hourly wage would be worth just 199 Kč.


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[08:32 23/06/2008] : Dear sir:
I want to know about the general job situation in Prague and the per hour wages paid in the euro currency in Prague.
Bikash Dahal
parague
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