Unemployment in Eurozone

Eurozone Unemployment | Economic News & Forecasts

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 (11.5%). 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

Met the why particular 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 Rate12.0  11.6  11.9  11.0  9.1  

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Eurozone Unemployment Chart

Euro Unemployment
Note: Unemployment in % of active population.
Source: Eurostat.

Eurozone Facts

Exchange Rate1.140.65 %Jan 22
Stock Market1,078-0.52 %Jan 22

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