Bratislava, Slovakia – The unemployment rate has dropped significantly in Poland and Slovakia, while remaining roughly in Hungary and the Czech Republic throughout the year.
According to Eurostat data, the unemployment rate in Poland became the third lowest in the EU last month, dropping at 3.3% in July 2019 compared to 3.8% during the same period last year. The number of unemployed people in absolute terms decreased by nearly 100,000, from 650,000 last summer to roughly 554,000 this year.
Although still the highest among Visegrad Group countries, Slovakia‘s unemployment reported the fourth biggest drop in the EU (after Greece, Croatia and Cyprus), falling from 6.5% in July 2018 to 5.3% this year.
The Czech Republic continues to boast the single lowest unemployment rate in the EU, at 2.1% in July 2019 – just 0.2 percentage points higher than July 2018.
Hungary‘s joblessness rate also remained pretty stable year-on-year, currently set at 3.5% compared to 3.7% at the same period last year.
Unemployment among booming Central European economies remains well below the EU (6.3%) and Eurozone average (7.5%).
Greece (17.2%), Spain (13.9%), Italy (9.9%), France (8.5%) and Croatia (7.1%) had the EU’s highest shares of unemployed people compared to their country’s overall workforce.