Business News
Czech unemployment rate climbs to 9.9 per cent
Mar 8, 2010, 12:06 GMT
Prague - The Czech Republic's unemployment rate continued to rise in the midst of the global economic crisis, reaching 9.9 per cent in February, compared to 9.8 per cent in January, government data showed Monday.
The February jobless rate was up 2.5 percentage points year-on- year, the Ministry of Labour and Social Affairs said.
The ministry's rate is based on the number of job seekers registered with the country's labour authorities.
The Czech Republic's harmonized jobless rate, a figure suitable for international comparisons, stood at 8.5 per cent in January, or below the European Union's average of 10.1 per cent that month, according to Eurostat data.
The overall Czech economy was largely spared by the global financial crisis, but its exporters have been troubled by falling demand from abroad.
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