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Financial News: Eurozone Jobless Rate Falls In February

Eurozone Jobless Rate Falls In February

04/03/2017 - 05:13:00 (RTTNews)

(RTTNews) - The euro area unemployment rate dropped to the lowest level in nearly eight years in February, data from Eurostat showed Monday.

The jobless rate fell marginally to 9.5 percent in February, in line with expectations, from 9.6 percent in January. This was the lowest rate since May 2009.

In February, the youth unemployment rate came in at 19.4 percent versus 19.8 percent in January.

The EU28 overall unemployment rate slid to 8 percent in February from 8.1 percent in the prior month. The rate was the lowest since January 2009.

The number of unemployed decreased by 140,000 from prior month to 15.439 million in February.

Among the member states, the lowest unemployment rates were seen in the Czech Republic, Germany and Malta. Meanwhile, the highest unemployment rates were registered in Greece and Spain.

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