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Euro zone unemployment rate hits 12-year low on eve of virus measures




Euro zone unemployment rate hits 12-year low on eve of virus measures

  • Update Time : Wednesday, April 1, 2020
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Euro zone unemployment rate hits 12-year low on eve of virus measures
Euro zone unemployment rate hits 12-year low on eve of virus measures

MarketDeal24.Com – The rate of unemployment in the Euro zone plunged to a record 12-year low in February last, the month before the containment steps for COVID-19 pandemic began.

The rate of unemployment was 7.3% in the 19 countries sharing the single currency euro, the lowest level since March 2008, EU statistics office Eurostat revealed on Wednesday. Whereas in the entire zone, consisting of all the 27-member states of the EU, the rate of unemployment was 6.5%. This was of course remain unchanged from a month back.

As per a conservative estimate by Eurostat, 12.047 million Europeans in the euro area and 13.984 million people in the wider EU region remained out of work in February.

Unemployment however differs from one country to another, for example in the Czech Republic it was 2.0%, in Netherlands and Poland it was 2.9%, and in Spain and Greece, it was 13.6% and 16.3% respectively.

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