Unemployment in The Euro Zone Remains High

According to the official figures from Eurostat, the jobless rate in the euro zone remained at 11 percent in April, unchanged from March. This is the highest unemployment level since records began in 1995.

Applying a seasonally adjusted calculation, around 17.4 million people were unemployed in the euro zone in April.

In the 27-nation European Union, the unemployment rate increased slightly from 10.2 perecent in March to 10.3 in April.

Amongst the EU’s largest economies, Germany is the only country, where unemployment dropped to 5.4 percent from 5.5 percent the previous month. The jobless rates in both France and Italy increased to 10.2 percent in April from 10.1 percent in March.

Spain had the highest unemployment rate in the euro zone at 24.3 percent, while Austria had the lowest level – at 3.9 percent in April.

Source: BBC

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Kenny Fisher

Kenny Fisher

Currency Analyst at Market Pulse
Kenny Fisher joined OANDA in 2012 as a Currency Analyst. Kenny writes a daily column about current economic and political developments affecting the major currency pairs, with a focus on fundamental analysis. Kenny began his career in forex at Bendix Foreign Exchange in Toronto, where he worked as a Corporate Account Manager for over seven years.