Wednesday, October 12, 2016

Low Unemployment in Czechland

Unemployment is low in Czechland.  It has been falling since January and as of September is is 5,2%.

The last several quarters have seen steady growth.  Exporters see a solid demand for Czech goods and there's a growing services demand.  There's also been an increase in self employment and entrepreneurship.

This is all good news.  On the flip side, it's getting more and more difficult for employers to find workers.  Even for low qualified positions.  It's creating wage pressure as well.  Difficulty finding people and at higher wages will become a major obstacle for continued economic growth.

Czechland currently has the lowest unemployment rate in the EU.  Followed by Germany, Hungary, Malta and the UK.

At around 23%, Greece has the highest unemployment rate in the EU.  Ahead of Spain, Cyprus, Italy and Croatia.

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