Business cycle and its impact on labor markets in Czech Republic, Germany and USA from 2005 to 2014

Main objective of this diploma thesis is to analyze the business cycle in USA, Germany and Czech Republic in years 2005 -- 2014 and evaluate impacts on each economy and particularly on labor markets. Work contains circumstances of beginning of the world economic downturn, which hit the world economy during those years, impacts of the crisis on each economy and analysis of the stimulus packages passed by both central governments and central banks. Analysis and comparsion is made by monitoring the development of main macroeconomic indicators such as GDP growth, rate of unemployment and employment, public debt or inflation. Conclusion is that German labor market was struck the least of the three countries and it didnt suffer from high rates of unemployment or decrease of employment. That was achieved mostly because optimal labor market reforms which were done before the beginning of the crisis.