Czech unemployment falls to 25-year low of 2.1%

Czech unemployment falls to 25-year low of 2.1%
Czech unemployment falls to 25-year low of 2.1%
By bne IntelliNews December 5, 2018

The Czech seasonally adjusted unemployment rate fell to its lowest level in a quarter of a century of 2.1% in October, down by 0.5 percentage points (pp) year-on-year, according to the Czech Statistics Office data published on November 30.  

The male seasonally adjusted unemployment rate dropped to 1.7%, the rate for females was 2.5%. The economic activity rate reached 76.7%, an increase of 0.5 pp in October y/y. Following the seasonal adjustment, the male economic activity rate of 83.1% exceeds the female economic activity rate by 13.0% pp.

“The total unemployment rate of 2.1% is at the lowest level in history since 1993. The Czech Republic coped with the highest unemployment rate in the first half of 2000 when its value exceeded the level of 9.0%,” said the Director of Labour Market and Equal Opportunities Department of the Czech Statistical Office Dalibor Holy.

According to Eurostat data, the Czech general unemployment rate for 15–74 year olds in October reached 2.2%.

At the beginning of November, the Czech Labour Office reported the Czech unemployment rate at its 21-year minimum of at 2.8% in October, breaking the previous record low of 2.9% reported in June.

Data

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