According to the European Labour Force Survey, in the first quarter of 2021, the labour market slack in the European Union ran to over 14% of the extended labour force aged 20-64. The Czech Republic has the lowest labour market slack (4%) and second highest employment rate (almost 80%) in the EU. Photo Credit: Freepik.
Czech Rep., Jul 26 (BD) According to recent data from the EU Labour Force Survey, in the first quarter of 2021, the seasonally adjusted employment rate of people aged 20-64 in the EU stood at over 70%.
Share of Employment Rate and Labour Market Slack in Q1 2021. Credit: Eurostat.
According to the survey, the Netherlands recorded the highest employment rate in the first quarter of 2021, at just over 80%. Sweden, the Czech Republic, and Estonia shared second place with just under 80%.
The Czech Republic recorded the lowest total labour market slack among EU member countries (4%) followed by Malta and Poland with around 6%. The labour market slack comprises all people who have an unmet need for employment.
On the other end of the scale, Greece (60%), Italy (60%) and Spain (65%) have the lowest employment rates, and the highest labour market slack rates, of over 25%.
According to the survey, in the first quarter of 2021, the labour market slacks across the EU. ran to over 14% of the extended labour force aged 20-64.
As a percentage of the extended labour force, underemployed part-time workers made up almost 3%, while those available for work but not actively searching for work was another 4%. Those actively searching for work but not available to take up work stood at over 0.5%.
