Unemployment reaches record-low rate

The unemployment rate has reached its lowest level in nine years. According to data released by the Labour Ministry, 5.8 percent of Czechs were out of work in October. There were 350,000 jobless last month, almost 90,000 fewer than the same month in 2006. On average there are 2.4 applicants for every vacancy. Analysts attribute the positive development to an increasing number of new jobs. On the other hand, Czech companies are facing shortage of employees.