MoneyNewsTop NewsWorld

Unemployment in the eurozone in March remained at 8.5%

EUROPE (OBSERVATORY) – Unemployment in the 19 countries of the eurozone in March 2018 remained at 8.5%, as in February, according to the Statistical Office of the European Union (Eurostat). This level is minimal since December 2008.

The dynamics of the indicator coincided with the expectations of experts.

In the EU, unemployment remained at 7.1%. This level is the lowest in the EU since September 2008.

In 28 EU countries in March there were 17.481 million unemployed, out of which 13.824 million were in the euro area.

Compared to the previous month, the number of unemployed decreased by 94 thousand in the EU and by 83 thousand – in the euro area. Compared with March 2017, the unemployed fell by 1.930 million in the EU and 1.414 million in the euro area.

Among the EU countries, the lowest unemployment rates in March 2018 were recorded in the Czech Republic (2.2%), Malta (3JO3%) and Germany (3.4%), and the highest in Greece (20.6%) and Spain (16.1%).

Compared to March 2017, the unemployment rate declined in all EU countries, with the exception of Lithuania, where unemployment remained at 7.5% and Estonia, where the indicator rose to 6.5% from 5.3% a year earlier.

The largest decrease in annual terms was recorded in Cyprus (from 12.3% to 9.1%), in Greece (from 23.2% to 20.6%), Croatia (from 11.8% to 9.4%) and Portugal (from 9.7% to 7.4%).

In France unemployment was 8.8%, in Italy – 11%.

For comparison: in March, the unemployment rate in the US was 4.1%.