UNEMPLOYMENT AND GDP RELATIONSHIP ANALYSIS IN THE VISEGRAD FOUR COUNTRIES

Abstract

Unemployment rate is one of the most important macroeconomic indicators. The change of the unemployment rate is highly correlated with the phase of the economic cycle. The economic growth has positive impact on employment issues, while negative growth will result in increasing unemployment. In terms of the future economic outlook, we find it important to analyse the development of the unemployment rate. This study is addressing the analysis of unemployment rate in the V4 countries of the Central European region. It is focusing on examining the relationship between the economic cycle and the long-term unemployment rate in the region. We targeted to examine the productive age group of the population (20-64 years). This group has the greatest influence on development of the employment trends. We applied the method of regression analysis and descriptive statistics. We used Eurostat as a data source. Our research has shown that there is no close relationship between the real GDP and the unemployment rate.