Brussels — Unemployment in the eurozone fell in May, data showed on Monday, as joblessness in Europe continued its slow but steady fall towards pre-crisis levels. Eurostat said the jobless rate in the single-currency area fell to 8.4% in May, a nine-year low and down from 8.5% a month before. This was better than a forecast by analysts surveyed by financial services provider Factset, who were expecting 8.5%. Unemployment in the eurozone has been falling steadily since it fell below the symbolic threshold of 10.0% in September 2016. However, it is still higher than the average rate before the financial crisis, when it stood at 7.5%. At the worst of the debt crisis in 2013, unemployment reached a record 12.1% in the euro area. Among the 19 single-currency countries, the lowest unemployment rates in May were recorded in Germany at 3.4%, according to Eurostat. The highest rate was recorded in Greece with 20.1% in March, the latest available figure. Crisis-hit Spain’s rate was at 15.8%. ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.