Which country in Europe has the lowest unemployment rate: latest Eurostat data
The Czech Republic ranks first among the European Union countries in terms of employment. Learn more about the criteria used to determine the unemployed and employment statistics in the European Union
The latest data marks the Czech Republic as a leader among European countries in terms of employment. The European Commission conducted an analysis and noted that the Czech Republic currently has the lowest unemployment rate among all EU countries.
Here is a look at other European countries with low unemployment rates according to Eurostat.
Low unemployment in Europe: details
The International Labor Organization defines the unemployed as those who meet the following criteria:
• Age from 15 to 74 years;
• Unemployment;
• Willingness to start work within two weeks;
• Active attempts to find a job within four weeks.
The unemployment rate is calculated as a percentage of the number of unemployed persons out of the total labor force, i.e. all able-bodied persons in the country aged 15 to 74.
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According to statistics, the unemployment rate in the Czech Republic is 2.5%, which corresponds to 131 thousand people. This is the lowest rate among EU countries. Malta is next in the ranking with an unemployment rate of 2.7%, followed by Germany with 3%.
The highest unemployment rate is observed in Spain, where it is 11.5%. In Greece, this figure reaches 10.9%, and in Sweden and Estonia - 7.6%.
The average unemployment rate in the European Union is 5.9%, which is almost 13 million people.
The level of employment of young people under the age of 25 in Europe was studied separately. The lowest unemployment rate among young people was recorded in Germany - 5.7%. The Czech Republic ranks second with an unemployment rate of 8.5%, followed by Lithuania (8.6%) and the Netherlands (8.7%).
A large number of vacancies in the Czech labor market are available in various fields, from construction to IT.
The greatest demand for workers exists in the fields of construction, drivers, manufacturing, and information technology. Programmers, cybersecurity specialists, and data analysts are in greatest demand. The market also has a large number of vacancies for teachers, doctors, and other professionals.
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