Czech attractiveness, Hungarian joblessness, Polish freelancers… What’s new?

Didn’t have time to read the news lately? Kafkadesk’s got you covered. Here’s our recap of what’s been going on in the business field and what you might have missed these last few days: Polish freelancers, Czech attractiveness and Hungarians unemployed.

Czech Republic ranked as Europe’s most attractive manufacturing destination

The Czech Republic was ranked as the most attractive manufacturing destination in Europe, reports Emerging Europe, citing a study from real estate services company Cushman and Wakefield. The Manufacturing Risk Index 2019 places the Czech Republic first in Europe and fifth worldwide in terms of minimum exposure to economic and political threats. In last year’s ranking, the Czech Republic was placed 8th worldwide, topped by Hungary (7th) and right ahead of Slovakia (9th).

“While the Czech Republic is far from the cheapest country for the manufacturing industry (…) it is rated as the best manufacturing destination in Europe primarily thanks to a high degree of security, relative political stability compared with countries in the east of Europe and also economic and corporate stability”, points out Ferdinand Hlobil from Cushman and Wakefield, who also highlighted the country’s “central position with strategic access to Europe’s main markets” as a sign of increased attractiveness.

Share of Polish freelancers is third highest in the EU

According to Eurostat data, Poland has the third highest rate of self-employed persons in the EU (nearly 3 million freelancers out of a total of 16.5 million employed people), only topped by Greece (nearly 30%) and Italy (21%). Most of the self-employed operating in Poland were registered as ‘skilled agricultural, forestry and fishery workers’, ‘professionals’ and ‘craft and related trade workers’.

Other Central European countries also have high rates of self-employment, with Czechia (16.4% of total employment) and Slovakia (14.7%) ranked fifth and ninth highest respectively. Hungary, meanwhile, has the fifth lowest rate of self-employment in the EU, at less than 10% of total employment. According to the EU’s statistical office, there were more than 32 million self-employed people (aged 15 to 74) in Europe in 2018, accounting for 14% of total employment.

Hungary’s unemployment rate among lowest in Europe

The unemployment rate in Hungary sank to one of its lowest levels in recent years, at 3.4% in February 2019, the fourth lowest throughout the EU (tied with Poland) and down from 3.8% last summer. Only the Netherlands (3.3%), Germany (3.2%) and the Czech Republic (1.9%) – the long-standing employment champion in Europe – have lower joblessness rates. With an unemployment rate of 5.7%, Slovakia reports the highest among Visegrad Group countries, but still well below European average.

On average, the unemployment rate stood at 6.4% in the EU and 7.7% in the Eurozone, with the highest rates found in Greece (18.5%), Spain (14%), Italy (10.2%) and France (8.8%).