Czech Republic has lowest unemployment in EU

Published: 13.09.2017 Related countries:  Israel Israel

Czech Republic reports the lowest unemployment of all European Union member countries, the number of jobless persons dropped to 4% in August 2017.

In August 2017 the share of unemployed individuals in the Czech Republic fell 0.1 p.p. m/m to 4.0 %. This was reported by the Ministry of Labor and Social Affairs of the Czech Republic. Labor offices registered 199,273 job openings at the end of August (+11,207 m/m, +60,005 y/y). The number of job applicants fell 6,248 m/m to 296,826. It was down 91,648 individuals y/y. There are now 1.5 applicants for every job opening. There is as usual high demand for technical professions in all sectors.

The space for further reducing unemployment is however limited. This is why companies will increasingly encounter capacity restrictions and in their effort to increase production they will have to opt for investments into the modernization of production.