Unemployment rate in the Czech Republic continues to drop in March

By Anastasia Alexandridou

Really good news for the country’s economy and for those who are seeking a job in the Czech Republic!

The number of unemployed in the Czech Republic has decreased from January of 2018 (3.9%) to February and March of 2018 (3.7%).

While the unemployment rate continues to drop, the Czech Republic currently remains the member state of the European Union with the lowest rate according to Eurostat Malta is recorded as the country with the second lowest rate (3.5%) and Germany follows with 3.6%.

On the other hand, the highest unemployment rates were observed in Greece (20.9% in November 2017) and Spain (16.3% in January 2018), as mentioned by the same source.

Eurostat estimates that there were 17.931 million unemployed men and women in January 2018 in the European Union, and that 14.111 of them were in the euro area.

In the same period, “3.646 million young persons (under 25) were unemployed in the EU-28, of whom 2.535 million were in the euro area,” according to Eurostat.

Source: tradingeconomics.com | Ministry of Labour and Social Affairs.

Czech unemployment, on the other hand, is following a downward trend compared to the previous year. In February 2017 the rate was 5.1%, but it fell to 3.7% for the same month in 2018 according to Trading Economics.

“The number of unemployed persons fell by 99.309 thousand people to a total of just 280.9 thousand. The jobless rate was 3.8 percent for men and 3.7 percent for women,” the data of Trading Economics show.

At the beginning of 2018, as can be seen in the graph, the unemployment rate was 3.9% and it is estimated that this figure will continue to drop or remain stable in the upcoming months.

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