Eurozone unemployment at lowest figure in almost five years


The unemployment rate in the Eurozone was 10.3% in February, according to figures released by Eurostat today.

This marked a 0.1% decrease from January's figure, as the number of jobless fell to its lowest since August 2011.

It means there were 39,000 less unemployed people across the 19 euro countries. The number of unemployed now stands at 16.63 million.

Despite the slight move in the right direction, the jobs market in the Eurozone continues to look sluggish when compared to international standards.

The US, for example, reported an unemployment rate of only 4.9% in February.

The Eurozone's unemployment rate has now fallen for a 15th consecutive motnh, but the latest drop is the smallest since May 2015.

Germany has the lowest unemployment rate in the Eurozone, at 4.3%, whilst Greece had the highest at 24%.

Ireland's unemployment rate for February was placed at 8.8%, just below the overall unemployment rate for the 28 members of the EU.

The EU28 unemployment rate remained stable at 8.9% in February, down from 9.7% in February 2015.

It was the lowest rate recorded in the EU28 since May 2009.

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