Unemployment in Eurozone
Eurozone - Unemployment
Unemployment closes 2019 rate at over 11-year low
Labor market conditions in the common currency bloc improved in December, according to data released by Eurostat. The number of unemployed people decreased by 34,000, and the unemployment rate edged down from November’s 7.5% to 7.4% in December. The figure represents the lowest unemployment rate since May 2008.
Looking at the countries with data available, five economies saw their unemployment rates inch down in December, including Spain and the Netherlands. In contrast, four economies saw their unemployment rates rise, while the rest of the bloc saw unchanged labor market conditions—including France, Germany and Italy.
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 (16.6%, data refers to October), followed by Spain (13.7%). At the other end of the spectrum, Germany (3.2%), the Netherlands (3.2%) and Malta (3.4%) have the lowest unemployment rates.
FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 7.5% in 2020, which is unchanged from last month’s forecast. For 2021, the panel expects the unemployment rate to average 7.5% again.
Eurozone - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Eurozone Unemployment Chart
|Exchange Rate||1.12||0.65 %||Dec 31|
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February 14, 2020
A second estimate reaffirmed that the Eurozone economy slowed sharply in the final quarter of last year, after growth picked up in the third quarter.
February 12, 2020
Industrial output dived a seasonally-adjusted 2.1% over the previous month in December, following November’s flat reading.
January 31, 2020
Harmonized inflation inched up to 1.4% in January from December’s 1.3% and therefore marked the highest reading since February 2019, according to a flash estimate released by Eurostat on 31 January.
January 31, 2020
The Eurozone economy slowed sharply in the final quarter of last year, after growth picked up in the third quarter.
January 30, 2020
Sentiment in the Eurozone strengthened in January, although it remained quite downbeat.