Unemployment in Eurozone
Eurozone - Unemployment
Unemployment rate inches down in August
Labor market conditions in the common currency bloc tightened in August, according to data released by Eurostat. The number of unemployed people decreased by 115,000, and the unemployment rate dipped from 7.5% in July to 7.4% in August. The result marks the lowest unemployment rate since May 2008.
Looking at the countries with data available, eight economies saw their unemployment rates edge down in August, including Italy. In contrast, four economies, including the Netherlands saw their unemployment rates rise.
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 (17.0%, data refers to June), followed by Spain (13.8%). At the other end of the spectrum, Germany (3.1%), Malta (3.3%) and the Netherlands (3.5%) have the lowest unemployment rates.
FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 7.7% in 2019, which is unchanged from last month’s forecast. For 2020, the panel expects the unemployment rate to average 7.5%.
Eurozone - Unemployment Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Unemployment Rate | 12.0 | 11.6 | 10.9 | 10.0 | 9.1 |
Eurozone Unemployment Chart
Source: Eurostat.
Eurozone Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 1.10 | 0.65 % | Sep 04 |
| Stock Market | 1,175 | -0.52 % | Sep 04 |
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Economic News
Eurozone: Inflation drops to nearly three-year low in September
October 16, 2019
Complete data revealed harmonized inflation fell to 0.8% in September, down from August’s 1.0% and a notch below the preliminary estimate.
Eurozone: Industrial output rebounds in August
October 14, 2019
Industrial output returned to growth in August, contrasting two months of contractions.
Eurozone: Inflation at close to 3-year low in September
October 1, 2019
According to a preliminary estimate released by Eurostat on 1 October, harmonized inflation inched down to 0.9% in September from August’s 1.0%, printing the lowest reading in close to three years.
Eurozone: Unemployment rate inches down in August
September 30, 2019
Labor market conditions in the common currency bloc tightened in August, according to data released by Eurostat.
Eurozone: Economic sentiment falls to over four-year low in September
September 24, 2019
Sentiment in the Eurozone dropped sharply in September, reversing August’s marginal gains.
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