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CZECH REPUBLIC: EU's lowest unemployment rate

posted onJuly 5, 2017

In figures recently released by Eurostat, it was revealed that the Czech Republic had the European Union’s lowest unemployment rate (3%) in May 2017. Germany was in second place with 3.9%, followed by Malta with 4.1%.

The highest rates were observed in Greece (22.5% in March 2017) and Spain (17.7%). The average rate across all 28 member states was 7.8%, while in the eurozone it was 9.3%. Compared with a year ago, the unemployment rate in May 2017 fell in all Member States for which data is comparable over time.

According to the Czech Statistical Office, the employment rate (the share of the employed persons in the age group 15 – 64 years, as percentage), reached 73.5% in May 2017 and increased by 1.6 percentage point compared to that in May 2016. The male employment rate was 80.9%; the female employment rate was 66.0%. The employment rate of persons aged 15 – 29 years was 48.9%, in the age group 30 – 49 years it attained 87.6%, and in the age group 50 – 64 years it got to 71.8%.

Prague, the Czech Republic's capital had 3.2% unemployment in March 2017, according to data from the Czech Labour Office. There were some 28,670 people without work in Prague, which is 750 fewer than the month before. Job vacancies in the same time frame increased by 2,052 to 26,431. 

Located just east of Germany in central Europe, the Czech Republic has a population of 10.7 million people.

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