Workers Winning War on Low Wages in EU's Most Stable Economy
- Union head says Czech economy needs more high-tech production
- Tight labor market is key factor for central bank rate hikes
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Czech workers are slowly winning the war on low wages.
Faced with the European Union’s lowest unemployment rate, companies are tackling a dearth of able bodies in the country of 10.6 million with bonuses and higher salaries. According to Josef Stredula, the head of the nation’s umbrella union, that will continue for several more years as labor costs lie far below those in the richer West.