Unemployment in the Eurozone fell to a record low in March despite the early economic damage caused by Russia’s invasion of Ukraine.
- The euro-area jobless rate slipped to 6.8%, from an upwardly revised 6.9% in February, the lowest level since the single currency bloc was introduced.
- Meanwhile, the figure is higher than the 6.7% expected, which might signal that the job recovery has slowed.
- In the EU, unemployment was 6.2% in March 2022, falling from 6.3% in February 2022 and from 7.5% in March last year.
From March 2021, unemployment declined by 1.931 million in the Eurozone and 2.559 million in the larger EU as companies took on staff as economics bounced back from the COVID pandemic.
EuroStoxx 50 up +0.30%, EURUSD up +0.57%