Euro zone unemployment fell to 12-year low

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Official data showed today, Wednesday, that the unemployment rate in the single European currency area “the euro” fell to its lowest level in 12 years during the month of February, before the countries of the continent witnessed a large leap in the number of infections with the Corona virus.

According to data released by the European Statistics Office, “Eurostat”, the unemployment rate in the euro area fell to 7.3 percent at the end of last February, compared to 7.4 percent recorded in January.
This reading of the euro zone unemployment rate is the lowest since March of 2008, while analysts expected the unemployment rate to remain stable at a level of 7.4 percent.

According to the data, the number of unemployed people in the eurozone fell by 88,000 in February, on a monthly basis, and by 663,000 on an annual basis.

This reading monitors the unemployment rate before the Coruna virus hits European countries, becoming the focus of the global epidemic, causing disruption of economic activity and the closure of entire cities and countries.

Source
Sunrise Gate

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