Eurozone Unemployment

Eurozone

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%.

FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 11.1% in 2015, which is unchanged from last month’s forecast. For 2016, the panel expects the unemployment rate to average 10.6%.


Author:, Senior Economist

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Euro Unemployment March 2015 0

Note: Unemployment, % of active population. Data for Estonia refer to February, data for Latvia refer to December 2014 and data for Greece refer to January.
Source: Eurostat.


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