Eurozone unemployment lowest in eight years

EPA/JUANJO MARTIN

A large queue of people wait at an Unemployment Office in Madrid, Spain.

Eurozone unemployment lowest in eight years


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The euro area (EA19) seasonally-adjusted unemployment rate was 9.5% in February 2017, down from 9.6% in January 2017 and from 10.3% in February 2016, according to data published today by Eurostat, the statistical office of the European Union.

This remains the lowest rate recorded in the euro area since May 2009. The EU28 unemployment rate was 8.0% in February 2017, down from 8.1% in January 2017 and from 8.9% in February 2016. This remains the lowest rate recorded in the EU28 since January 2009.

Eurostat estimates that 19.750 million men and women in the EU28, of whom 15.439 million were in the euro area, were unemployed in February 2017. Compared with January 2017, the number of persons unemployed decreased by 153 000 in the EU28 and by 140 000 in the euro area. Compared with February 2016, unemployment fell by 1.852 million in the EU28 and by 1.246 million in the euro area.

The lowest unemployment rates were in the Czech Republic (3.4%) and Germany (3.9%), while the highest were in Greece (23.1%) and Spain (18%).

France, the second-biggest economy in the eurozone, was stuck at 10%.
At the height of the financial crisis, unemployment in the eurozone towered at 12.1%.
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