Eurozone: Labor market improves marginally and Eurozone unemployment rate stabilizes in March
April 30, 2015
In the Eurozone, the number of those unemployed or looking for a job fell by 36,000 people in March. The figure followed the 78,000 drop that was recorded in February. The unemployment rate remained stable at the 11.3% registered in both January and February.
Divergences in labor market developments prevail among the core European nations and the peripheral economies. Greece (25.7%, January data), Spain (23.0%) and Cyprus (16.0%) continue to be the Eurozone members with the highest unemployment rates. At the other end of the spectrum, Austria (5.6%), Germany (4.7%) and Luxembourg (5.7%) recorded the lowest unemployment rates. Among the remaining major economies, Italy had the highest jobless rate with 13.0%, followed by France at 10.6%.
Author: Ricardo Aceves, Senior Economist