Support independent journalism in Central & Eastern Europe.
Donate to TOL!
Despite strong growth, region’s economies still struggle to create skilled jobs and retain young workers.3 July 2018
Overall, “the labor market in the EU is at its best in years,” the Financial Times writes.
The newer member states in Central and Eastern Europe are driving the trend.
The Czech Republic has the lowest unemployment rate in the EU with 2.3 percent. Germany follows with 3.4 percent, and Hungary is third lowest at 3.7 percent, Business Review reports, citing Eurostat.
Five of the 10 member states with the lowest jobless rates are from the region, where just two countries – Latvia and Croatia – recorded a rate above the EU average of 7.0 percent.
Even though economic growth slowed this year compared to 2017, the EU’s “strongest growth in a decade … is set to continue this year and next,” EU commissioner for economic and financial affairs Pierre Moscovici boasted.
Real wages are expected to grow at the fastest pace in a decade, although they are forecast to rise only a modest 1.2 percent in the bloc, the FT says.
Southern Europe remains the laggard: Greece has a 20.1 percent unemployment rate, the highest in the EU, and Spain follows with 15.8 percent.
Transitions magazine = Your one-stop source for news, research and analysis on the post-communist region.
Sign up for the free TOL newsletter!
The Moldovan Diaries is a multimedia, interactive examination of the country's ethnic, religious, social and political identities by Paolo Paterlini and Cesare De Giglio.
This innovative approach to story telling gives voice to ordinary people and takes the reader on the virtual trip across Moldovan rural and urban landscapes.
It is a unique and intimate map of the nation.