Eurozone Unemployment Rate Stable At 4-1/2 Year Low
31 Mai 2016 - 10:33AM
RTTF2
Eurozone's jobless rate remained stable in April at the lowest
level in more than four years, while the German figure slipped to a
new low since the reunification, in May.
Data from the Eurostat showed that the unemployment rate came in
at 10.2 percent in April, in line with expectations and the same
rate as seen in March. This was the lowest rate recorded in the
euro area since August 2011.
The number of persons unemployed decreased by 63,000 from March
to 16.42 million. From last year, unemployment fell by 1.309
million.
IHS Global Insight economist Howard Archer expects Eurozone
unemployment to trend further downwards over the coming months,
although the decline will likely be relatively gradual.
The April drop in Eurozone unemployment would have been sharper,
but for a marked rise in Italy due to workers returning to the
workforce, Archer said.
The youth unemployment rate, which applies to those below 25,
eased to 21.1 percent in April from 21.4 percent in March.
In the EU28, the jobless rate stood at 8.7 percent in April, the
lowest since April 2009.
In Germany, the unemployment rate dropped to the lowest level
since reunification in 1990. The jobless rate fell to a seasonally
adjusted 6.1 percent, while economists expected the rate to remain
unchanged at 6.2 percent.
The number of people out of work decreased by 11,000 to 2.695
million in May. Economists had forecast a fall of 5,000.
The labor market continues to develop positively, Federal Labor
Agency Chief Frank-Juergen Weise said. Meanwhile, Italy's
unemployment rate climbed to 11.7 percent in April from 11.5
percent in March, the statistical office Istat reported today.
Economists had expected the rate to remain unchanged in April.
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