Germany is Europe’s economic powerhouse, with a reputation for efficiency, order, and low unemployment. But since the end of 2015, the job market in the neighboring Czech Republic has been even stronger.
Data published this week showed that the Czech Republic’s unemployment rate was a mere 2.9% in June , compared with 3.8% in Germany and 7.7% in the European Union overall. So how does this former communist country do it? Unemployment rate
’09’10’11’12’13’14’15’16’1724681012%EU averageCzech RepublicGermany246810Data: Eurostat Firstly, and perhaps unsurprisingly, labour is cheap. The average hourly labor cost in the Czech Republic in 2016 was just €10.20 ($12.07), well […]
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