Employment rate grows across CEE, duration of working life rises

In the fourth quarter of 2024, the employment rate of people aged 20-64 in the EU stood at 75.9%, stable compared with the third quarter of 2024. In the CEE7, the employment rate in 2024 reached 76.6%. The lowest employment rate is in Croatia and Serbia. The highest, on the other hand, is in Czechia. Looking from a broader perspective, the employment rate has increased by more than 10 percentage points in the region over the last decade. In the face of demographic changes the space for further substantial growth of employment rates seems limited at this point. Especially, the duration of working life has also increased. Ten years ago, a 15-year-old person was expected to work 33.1 years, while in 2023 the duration of working life averaged at 35.4 in CEE7. The CEE region benefited from inflow of Ukrainian refugees in recent years as well. The successful accommodation of them into the labor market only confirms the labor market tightness and challenges ahead.