c-car-RTS10Z9K-David W Cerny

This country has the lowest unemployment rate in the EU

2.9%

The Czech Republic has the lowest unemployment rate in the EU, at 2.9% in June.

Published   |  Photo by Reuters/David W Cerny
c-car-RTS10Z9K-David W Cerny
2.9%

It’s better than Germany, which has the second lowest, with 3.8%, and much lower than the EU average, of 7.7%.

c-car-RTS10Z9K-David W Cerny
2.9%

Countries with the lowest unemployment rates in the EU

c-car-RTS10Z9K-David W Cerny
2.9%

The Czech Republic manages that thanks to cheap labor. The hourly wage there is €10.2 ($12.1), which is more than half the EU average of €25.4 ($30.2).

c-car-RTS10Z9K-David W Cerny
2.9%

The Czech Republic also counts on factory jobs, which represent a third of the employment in the country.

c-car-RTS10Z9K-David W Cerny
2.9%

Cheap labor and incentives from the government have helped convince carmakers like Peugeot, Toyota, Citroën, and Hyundai to install plants there.

c-car-RTS10Z9K-David W Cerny
2.9%

But a lack of workers is making wages grow, and that could slowdown the economy. One option would be to invest in education, to create more high-skilled jobs.

c-car-RTS10Z9K-David W Cerny
2.9%

Still, even if things do get worse in the Czech Republic, it still has a long way to go before it reaches the unemployment rates of countries like Spain or Greece.

c-car-RTS10Z9K-David W Cerny
2.9%

Countries with the highest unemployment rates in the EU

Published

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