The unemployment rate in the euro area fell to the lowest level since the 2008 crisis


Brussels: The European Statistics Office announced on Wednesday that the unemployment rate in the euro area fell to 7.3 percent in February, a month before the application of quarantine in most countries of the region because of the Corona virus.

This rate is the lowest recorded in the euro area since March 2008, that is, before the financial crisis that hit the whole world. The unemployment rate in January was 7.4 percent.

Of the 19 countries that adopted a single currency, the lowest unemployment rates were recorded in February in the Netherlands (2.9 percent) and Germany (3.2 percent).

The highest unemployment rates were also observed in Greece (16.3 percent in December 2019) and Spain (13.6 percent). In France, the ratio was higher than the average of the euro area (7.3 percent), or 8.1 percent.

The unemployment rate in the European Union, that is, in 27 countries, reached 6.5 percent in February, that is, it is stable compared to the rate recorded in January.

This is still the lowest rate recorded in the European Union since the publication of monthly unemployment statistics in February 2000, according to Eurostat.

Topics that may interest you:


Please enter your comment!
Please enter your name here