Unemployment reached a six-month record high in December

The ranks of the unemployed in the Czech Republic grew by 24,000 people last month; data released this week showed that as of December, nearly some 542,000 people were out of work, or 9.5 percent of the working age population. That is the highest monthly rate of unemployment in six months. In related news, the number of people running small private businesses, including medical clinics and farms, dropped by 53,000 last year; analysts say a change in the tax code requiring advance payment of a set rate of taxes had led to the decline in entrepreneurship.

Author: Brian Kenety