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Czechia Boasts Lowest Unemployment Rate in EU

In March, Czechia maintained the EU's lowest unemployment rate at 2.9%, with a slight decrease in the number of unemployed, as reported by Eurostat.

Czechia's labor market continues to demonstrate robust resilience, as the nation's seasonally-adjusted unemployment rate held steady at 2.9% in March, according to Eurostat, the European Union's statistical office. This rate is the lowest across the EU, sharing this distinction with Poland. The number of unemployed individuals in Czechia saw a modest reduction, dropping to 515,000 in March from 516,000 in February, highlighting the effectiveness of Czechia's economic policies and labor market conditions.

 In contrast, the EU's overall unemployment rate stood at 6% in March, reflecting a slight decline from February's 6.1%. Greece and Spain continue to struggle with high unemployment rates, with more than one in ten people seeking employment. Eurostat reported that 13.258 million people across the EU were unemployed in March 2024, with the euro area accounting for 11.087 million of these. Gender disparities in unemployment were noted, with the EU's unemployment rate for women at 6.4% and for men at 5.7%, both showing minor changes from the previous month.

Source: Prague Morning

Prepared by the team of CzechTrade and CzechInvest offices in San Francisco