Youth unemployment is a problem in each member country of the European Union (EU). The EU seeks to alleviate this problem by implementing various programs to support young people in finding and keeping a job, thus contributing to economic growth. In 2020, the world was hit by the COVID-19 pandemic. The countries have introduced many strict measures to prevent its spread, but they have caused a significant increase in unemployment, including among young people, and thus harmed economic growth. In this paper, we analyze the unemployment of people under the age of twenty-five in the EU. We also point out how unemployment rates have increased in individual countries. This problem concerns not only countries where the youth unemployment rate had been high already, such as Greece, Spain, and Italy, but also countries with previously lower rates, for example, the Czech Republic, Netherland, Poland, and Slovenia. In the latter group of countries, the youth unemployment rate has doubled in some cases due to anti-pandemic measures. We found that the most affected countries in this regard are the aforementioned Czech Republic, where the unemployment rate at the end of 2020 rose to 2.19 times above the level at the end of 2019, and Estonia, where year-over-year youth unemployment rose by a factor of 2.5. However, unfavorable developments occurred also in Lithuania, Latvia, and Ireland. According to our results, in 2020, youth unemployment increased the least in Hungary, Italy, and Belgium. In general, however, as the situation is now much more urgent, measures to alleviate this problem need to be put in place in each country to help young people find employment and, thus, stimulate economic growth.
REAL WAGES AND UNEMPLOYMENT RATE RELATION - THE CASE OF THE CZECH REPUBLIC 1998-2010
