Eurozone Jobless Rate Lowest Since March 2009

Gladys Abbott
June 1, 2017

The unemployment rate in the eurozone fell in April, to its lowest level since just after the financial crisis, according to the latest figures from Eurostat.

Economists had expected an unemployment rate of 9.4% for the 19-country currency bloc, which itself would have been a drop on March's reading of 9.5%.

In a further sign of economic recovery, unemployment in the eurozone has fallen to its lowest level since March 2009.

The EU jobless rate dropped to 7.8 percent from 7.9 percent in March and was the lowest since December 2008.

Compared with a year ago, the unemployment rate in April fell in 27 member states and remained stable in Finland.

Eurostat estimates that 19.121 million men and women in the EU28, of whom 15.040 million in the euro area, were unemployed in April 2017.

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In April 2017, 3.746 million young persons (under 25) were unemployed in the EU28, of whom 2.617 million were in the euro area.

Greece (23.3 per cent) and Spain (17.8 per cent) registered the highest unemployment rates across the EU.

Unemployment was marginally down across the EU.

Youth unemployment across the European Union as a whole stood at 16.7 per cent, with that figure rising to 18.7 per cent within the eurozone.

Eurostat said the unemployment rate in Malta in April stood at 4.1%, placing after Germany (3.9%) and the Czech Republic (3.2%).

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