Articles

Unemployment Rates Lowest Since 1997

In Economy on August 3, 2007 by Petr Bokuvka

More and more Czechs can find jobs easier. The unemployment rate is at 5.3 percent, which is the lowest figure since 1997. In some industry sectors it is getting harder to find suitable employees. Some companies must lure people from such distant countries as Vietnam or Mongolia. Before 1989 these two countries used to have “friendship agreements” with former Czechoslovakia on the exchange of labor force. 

It would be extremely suitable to publish a study on these unemployment figure that would tell us what they would look like under a different social system. It is a known fact that many people who are unemployed do not even try to find a job because unemployment allowance is high enough for them to stay home.

The Czech Stats Office measures the unemployment rate using the ILO method: this method suggests that a person who does not have a job seeks it actively and is ready to take it within two weeks, Aktualne.cz news server explains.

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One Response to “Unemployment Rates Lowest Since 1997”

  1. Looks like the U.S. is following straight behind. Our ecomonomy is facing a six month high for unemployment rates.

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