Low unemployment is one of the lasting effects of the CNB’s devaluation of 2013-2017, andbusiness leaders don’t even want to consider the idea that the hiring bubble will ever burst.Rarely do the titans of industry speak in public without demanding that the governmentincrease the quotas for non-EU foreigners as a way to fill the vacant positions. Pres. Jan Rafajof the Confederation of Industry blamed populism for the “blocked labor market.” In thesame breath, he and other business leaders warn about the devastating effects of high en-ergy costs. Kovo labor leader Roman Ďurčo said that the higher regulated part of the energyprice next year was the last straw that caused his union to join the strike on Mon. Energy-intensive companies are already going broke, and more will no doubt follow. Without timelyunemployment management, the same business leaders who are now calling for imports ofcheap Mongolians will soon be demanding government subsidies for not firing Czechs.

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