The unemployment rate in the Czech Republic dropped from 3.9% to 3.7% over the first two months of 2018, continuing a downward trend and reaching new 20-year lows.
Meanwhile, the number of available vacancies throughout the country has increased.
There were approximately 280,000 registered unemployed people throughout the country in February, according to new data released by the Czech Labor Office this morning. That makes for the lowest unemployment rate in the country since February 1997.
Last February, the unemployment rate in the country was 5.1%.
Also last month, there were about 240,000 open positions registered with the labor office (an increase of 8,500 more open positions since January). That makes for an average of 1.2 candidates for every available job.
And over the course of the spring and summer months, unemployment throughout the Czech Republic is expected to dip even lower thanks to work in tourism, construction, agricultural, and other seasonally-affected sectors.
Prague registered the lowest unemployment rate in the Czech Republic in February at 2.3%. The highest unemployment rate in the country was in the Moravian-Silesian region, at 5.6%.
Month-by-month over the past two years, the Czech Republic has consistently registered one of the lowest unemployment rates in the EU.
In January 2018, Statista pegged the seasonally-adjusted unemployment rate in the Czech Republic at 2.4%. That’s more than a full percentage point lower than the next-lowest countries, Malta (3.5%) and Germany (3.6%).
Greece (20.9%), Spain (16.3%), and Italy (11.1%) reported the highest unemployment rates in the EU.