LABOR MARKET IN RELATION TO THE PERFORMANCE OF THE ECONOMY

National economies of particular states strive to improve their economic performance, which determines the economic success and competitiveness of a particular country. The labor market and the qualitative aspect of labor force play an important role in this effort. In this paper, we assess the economic performance of the Visegrad Group countries by examining the evolution of GDP growth rates, inflation, unemployment and external balance. We assess the economic performance changes in terms of labor market development. Our research shows that all V4 countries achieved a higher economic performance in 2021 compared to 2010, and the labor market was an important factor contributing to favorable economic performance development.