Labor market and unemployment

In recent years became unemployment one of the most important economical issues. Increasing rate of unemployment is one of the most serious problems of most states. The goal of all of them is to ensure the maximal balance between supply and demand on the labour market. The purpose of the master thesis is to describe the basic aspects of labour market and unemployment, but primarily to describe the special instruments of the Austrian labour market and find some recommendations, which could be helpful and could be implemented to the system in the Czech Republic. First three chapters deals with the theoretical basis of the topic and terminology. First chapter describe the functioning of the labour market and specific attributes of the supply and demand on the labour market. Chapter two, which deal with the unemployment, define the origin of unemployment, kinds of unemployment and consequences of unemployment to the society. The third chapter concern to the topic of minimal wages and compare the advantages and disadvantages of the statutory minimal wages. Chapter four summarise the development and instruments of the employment policy of the European Union, because this policy has influence on the system in the Czech Republic and also in Austria. The last and the most important chapter of the thesis..