Eurozone unemployment rate falls to lowest since 2009

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graduate unemployment
graduate unemployment

The eurozone’s seasonally-adjusted unemployment rate fell to 9.6 percent in December, reaching the lowest level since May 2009 as economic growth accelerated, the statistical office of the European Union (EU) said on Tuesday.

graduate unemployment
graduate unemployment
The decrease was supported by stronger economic growth, which Eurostat said in a separate press release, was owing to the gross domestic product (GDP) in the eurozone having risen 0.5 percent quarter-on-quarter and 1.8 percent year-on-year in the last three months of last year.

Over 2016, the eurozone’s GDP grew by 1.7 percent and by 1.9 percent in the wider EU.

The unemployment rate of people under age 25 in the eurozone also decreased to 20.9 percent from 21.8 percent in December 2015.

But youth unemployment was still high in Greece, Spain, and Italy, where it was all above 40 percent.

The unemployment rate in the 28-member EU was 8.2 percent in December, stable compared with the previous month and down from 9.0 percent in December 2015. This remains the lowest rate since February 2009 in the EU.

Among EU member states, the lowest unemployment rates in December were recorded in the Czech Republic (3.5 percent) and Germany (3.9 percent). The highest unemployment rates were observed in Greece and Spain. Enditem

Source: Xinhua/NewsGhana.com.gh

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