Labor Productivity of Czech Firms and the Impact of the Crisis on Its Development

The paper deals with the influence of the global financial crisis on labor productivity in Czech companies belonging to analyses of the Ministry of Industry and Trade of the Czech Republic. It tries to illustrate businesses’ adaptation to new conditions. The article focuses on the confirmation or refutation of the assumption that after a decline in labor productivity, which resulted from the global financial crisis, enterprises reached the pre-crisis level no later than 2011. Furthermore, the object of the article is the discovery, how has the companies’ restraint of recruiting new staff impact on the development of the personal costs.