Unemployment in Eurozone
Eurozone - Unemployment
Unemployment rate drops in June
Labor market conditions in the common currency bloc improved in June, according to data released by Eurostat. The number of unemployed people decreased by 45,000, and the unemployment rate fell to 7.5% in June (May: 7.6%). The result marks the lowest unemployment rate since July 2008.
Looking at the countries with data available, six economies saw their unemployment rates fall in June, including Italy and Spain. In contrast, seven economies, including France and the Netherlands, experienced a higher unemployment rate.
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 (17.6%, data refers to April), followed by Spain (14.0%) and Italy (9.7%). At the other end of the spectrum, Germany (3.1%), Malta (3.4%) and the Netherlands (3.4%) 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 7.6%.
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 | 1.11 | 0.65 % | Jul 31 |
| Stock Market | 1,181 | -0.52 % | Jul 31 |
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Economic News
Eurozone: Inflation falls to over two-year low in July
August 19, 2019
Complete data revealed harmonized inflation felt to 1.0% in July from June’s 1.2%, a notch below the preliminary estimate of 1.1% and marking the lowest reading since November 2016.
Eurozone: Inflation inches down in July
August 1, 2019
According to a preliminary estimate released by Eurostat on 31 July, harmonized inflation fell to 1.1% in July, from June’s 1.3%.
Eurozone: Growth halves in Q2, providing ammunition for ECB action
July 31, 2019
The Eurozone economy slowed in the second quarter of 2019, likely weighed on by a weak manufacturing sector and uncertainty.
Eurozone: Unemployment rate drops in June
July 31, 2019
Labor market conditions in the common currency bloc improved in June, according to data released by Eurostat.
Eurozone: Economic sentiment drops to over three-year low in July
July 30, 2019
Sentiment in the Eurozone continued to wane in July, falling slightly to an over three-year low.
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