Unemployment in the euro area, the monetary union comprising 19 of the European Union's 28 countries, fell to 7.7 percent in March, its lowest level in over a decade, Eurostat, the EU statistical office, said in its report on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 30th April, 2019) Unemployment in the euro area, the monetary union comprising 19 of the European Union's 28 countries, fell to 7.7 percent in March, its lowest level in over a decade, Eurostat, the EU statistical office, said in its report on Tuesday.
"The euro area (EA19) seasonally-adjusted unemployment rate was 7.7% in March 2019, down from 7.8% in February 2019 and from 8.5% in March 2018. This is the lowest rate recorded in the euro area since September 2008," the report said.
The report also found that the overall unemployment rate in the European Union was 6.4 percent in March 2019, down from 6.5 percent in February, making it the lowest recorded rate since Eurostat started reporting statistics on EU unemployment in 2000.
Unemployment in the eurozone has been steadily falling since September 2016 and is now close to the pre-crisis rate of 7.5 percent. The 2008 financial crisis significantly harmed the EU economy as a whole and saw unemployment rates reach 12.1 percent at its peak in 2013.�
