Unemployment in Eurozone
Eurozone - Unemployment
Unemployment rate inches down in November
According to data released by Eurostat, labor market conditions in the common currency bloc improved in November. The number of unemployed people increased 90,000, and the unemployment rate fell from 8.0% to 7.9%. November’s result marks the lowest unemployment rate since October 2008.
Looking at the countries with data available, nine economies saw their unemployment rate drop, including Italy and Spain. In contrast, Belgium, Cyprus, Latvia and Malta saw 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 (18.6%, data refers to September), followed by Spain (14.7%) and Italy (10.5%). At the other end of the spectrum, Germany (3.3%), Malta (3.7%) and the Netherlands (3.5%) have the lowest unemployment rates.
Eurozone Unemployment Forecast
FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 7.8% in 2019, which is unchanged from last month’s forecast. For 2020, the panel expects the unemployment rate to average 7.6%.
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 | 1.14 | 0.65 % | Jan 16 |
| Stock Market | 1,067 | -0.52 % | Jan 16 |
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Economic News
Eurozone: Inflation drops in December
January 17, 2019
According to complete data released by Eurostat on 17 January, harmonized inflation came in at 1.6% in December, matching the preliminary estimate and below November’s 1.9%.
Eurozone: Unemployment rate inches down in November
January 9, 2019
According to data released by Eurostat, labor market conditions in the common currency bloc improved in November.
Eurozone: Economic sentiment hits almost two-year low in December
January 8, 2019
Economic sentiment in the Eurozone continued to plunge in December, ending 2018 on a downbeat note.
Eurozone: Inflation falls in December
January 4, 2019
According to a preliminary release by Eurostat on 4 January, harmonized inflation dropped to 1.6% in December, down from 1.9% in November.
Eurozone: Inflation eases in November
December 17, 2018
According to complete data released by Eurostat on 17 December, harmonized inflation came in at 1.9% in November, a notch less than the preliminary estimate and below October’s 2.2%.
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