The Czech Republic still has one of the lowest unemployment rates in Europe.
By BOHEMIST STAFF
PRAGUE – Unemployment in the Czech Republic has continued its impressive decline through August dropping to 4.0%, or less than half the average of the whole European Union, according to data released today by the Czech Statistical Office (CSO).
The data shows that the year-on-year unemployment rate fell 0.9%, impacting the joblessness figure, which now sits at just 208,400 people nationwide.
“Unemployment in the Czech Republic is way lower than the EU average, which was held to 8.6% in July. The unemployment rate of men in our country is about one third of women, which is half that of the EU,“said Dalibor Holý, director of labor market statistics and equal opportunities at CSO.
Employment in the Czech Republic is assessed using data regarding those who are between 15 and 64 years old. Month-to-month data shows that the employment rate fell 0.2% from July to August.
The Czech Republic has enjoyed a gradually falling unemployment rate now for years, with the figure topping out at 7.3% in March 2013. Experts maintain that the main reason for the fall is the country’s growing economy, has remained in good stead compared to the rest of Europe. Last year, gross domestic product growth reached 4.3%.