The rate has never been lower since the introduction of the euro. Of the countries in the euro zone, Spain has the highest unemployment rate. How about Germany?
In the eurozone, unemployment has fallen to another record low. In April, the unemployment rate fell by 0.1 percentage points to 6.5 percent, as reported by the Eurostat statistics office in Luxembourg on Thursday.
The rate has never been lower since the introduction of the euro. Bank economists had expected this rate. The March figure was subsequently revised upwards from 6.5 percent to 6.6 percent.
Unemployment in the currency area has been below 7 percent for over a year. The statistics office also reported that around 11.09 million people were unemployed in the 20 member states of the euro zone. Year-on-year, the number of unemployed fell by 203,000.
Of the 20 countries in the euro zone, Spain still has the highest unemployment rate of 12.7 percent. At 2.9 percent, the German unemployment rate is one of the lowest in the currency area.
Eurostat’s labor market data are based on figures from the International Labor Organization (ILO). The rate for Germany is therefore significantly lower than the rate reported by the Federal Employment Agency (BA). The federal agency announced on Wednesday that the German unemployment rate was 5.5 percent in May.
Source: Stern
