TIME SERIES ANALYSIS OF THE EMPLOYMENT RATE IN THE CZECH REPUBLIC IN 2005-2016

When analysing labour market trends, the employment rate serves as a key social indicator, defined as a ratio measuring the proportion of the employed working-age population. The rate of employment is one of the headline indicators in the Europe 2020 strategy for smart, sustainable and inclusive growth. The development of the employment rate both in the EU and the Czech Republic in 2005-2016 is examined with reference to achieving the objectives set in the Europe 2020 strategy, the Czech Republic having already exceeded the 2020 national target. The aim of the paper is to analyse the relationship between the employment rate and selected socio-economic indicators such as real per capita GDP growth rate, inflation rate, educational attainment, level of lifelong learning, social benefits, etc., in the Czech Republic. The regression analysis was used as the main tool of analysis. The employment rate regression analysis was carried out applying multivariate non-stationary time series methodology. The analysis covers the period between 2005 and 2016.