You are here

Eurozone unemployment drops to 11.1% in April: Eurostat

[BRUSSELS] Unemployment in the eurozone dropped to a three-year low of 11.1 per cent in April, official data showed on Wednesday, in a sign that the fragile jobs market in Europe could be on the mend.

Joblessness in the 19-nation currency bloc fell from a revised 11.2 per cent in March, the EU statistics agency Eurostat said, but with youth unemployment at a still high 22.3 per cent.

The overall level was the lowest since April 2012.

As usual, the level of joblessness varied widely across the eurozone.

Market voices on:

Unemployment in powerhouse Germany was unchanged at 4.7 per cent, the lowest rate in the currency bloc.

The highest rate was in debt-stricken Greece, at 25.4 per cent in February, the latest data available, down slightly from 25.7 per cent a month earlier.

Youth unemployment in Greece stood at 50.1 per cent and a still huge but slightly lower 49.6 per cent in Spain.

In welcome news, Italy, the eurozone's third biggest economy, saw joblessness fall to 12.4 per cent from a revised 12.6 per cent in March.

Youth unemployment in Italy however still stood at a high 40.9 per cent.

EU-wide, unemployment in the 28 member states fell by 0.1 per cent to 9.7 per cent in April.


Powered by GET.comGetCom