Eurozone: Unemployment rate stable in January
March 1, 2019
According to data released by Eurostat, labor market conditions in the common currency bloc were broadly unchanged in January. The number of unemployed people decreased by 23,000, and the unemployment rate was unchanged at 7.9% in January. The result remains the lowest unemployment rate since October 2008.
Looking at the countries with data available, five economies saw their unemployment rates drop in January, including France and Germany. In contrast, six economies, including Italy, their unemployment rates edge up.
Despite a large overall improvement in the Eurozone over recent years, disparities in the labor market among core and periphery countries persist. Greece is the economy in the Eurozone with by far the highest unemployment rate (18.0%, data refers to December), followed by Spain (14.1%) and Italy (10.5%). At the other end of the spectrum, Germany (3.2%) and the Netherlands (3.6%) have the lowest unemployment rates.