Analysis of unemployment in the Czech Republic

Laura Tussupova

Bachelor's thesis

Abstract:

This Bachelor thesis will be dealing with Unemployment problem in the Czech Republic. Theoretical part of this work is devoted to an introduction to the basic terms connected to unemployment, so the concepts such as labour market, types of unemployment and its measuring, employment policies and risky groups of unemployed will be defined in this part. Literature review creates a foundation of information, which is essential for the following practical part of this work. The beginning of the empirical part will be focused on a descriptive analysis of the current situation of unemployment in the Czech Republic. It was done for the purposes of deeper understanding of the subject area and as a background for the future forecast. The main aim of this work was to find the best fit among smoothing methods for the forecasting of future values of unemployment rate in the Czech Republic, so the techniques named Double exponential smoothing, which is also known as the Holt’s method, Holt-Winter’s multiplicative and additive methods were employed. In the process of forecast accuracy evaluating, Mean Square Error (MSE), Mean Absolute Deviation (MAD) and Mean Absolute Percentage Error (MAPE) indicators were employed. In the conclusion part, the answers to the main objectives of this work will be described.

Keywords

unemployment, labour force, double exponential smoothing, MAPE

Language used: English

Date on which the thesis was submitted / produced: 14. 3. 2019

Thesis defence

• Supervisor: Ing. Karel Malec, Ph.D.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Bachelor programme / field:
Economics and Management / Economics and Management