Unemployment in the European Union with the Emphasis on the Visegrad Four

Abstract :

An even larger increase in the unemployment rate was among young people under 25, where a decline occurred after 2013. This high rate of unemployment was subsequently reflected in the decline in other macroeconomic indicators, especially in gross domestic product. This paper aims to analyse the development of unemployment in the Czech Republic and its comparison with EU-28 and the Visegrad Four countries (hereinafter also referred to as V4). The Czech Republic is among the EU countries with the lowest unemployment rate and is therefore below the average for EU-28 and the Visegrad Four countries. The same result was achieved in the unemployment of young people, where the unemployment rate of 12.6% is almost half of that in the EU area (22.4%) in 2015. The employment rate in the EU-28 in 2015 was 20.3%.