Unemployment in Europe continues to fall

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Europe unemployment

Eurostat have released figures showing unemployment has continued to fall gradually across Europe.

Unemployment across the EU 28 members – that is, all EU countries combined – fell .01% in January to February.

Germany and the Czech Republic lead with the lowest rates of unemployment at 4.3% and 4.5%, while Greece and Spain lagged behind with 24% and 20.4% respectively.

But Spain saw a large drop in unemployment, falling 2.8% over the last year.

Cyprus also saw a significant drop in unemployment – 16.6% to 12.6% over the 12 month period.

Overall, The EU unemployment rate in February 2016 in was 8.9%, compared to 9.7% in February last year. This is the lowest rate recorded in the EU since May 2009, suggesting a weak but noticeable recovery is in progress.

Youth unemployment dropped across the EU as a whole as well – a decrease of 428,000 in the EU and 219,000 in the Eurozone.

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