Eurostat: Unemployment rate in EU lowest since ’08

BRUSSELS, The unemployment rate in the European Union (EU) was 7.1 percent in April, stable compared with March and down from 7.8 percent in April 2017.

This remains the lowest rate recorded in the EU since September 2008, according to figures published by Eurostat, the EU’s statistical office, Thursday.

The euro area unemployment rate was 8.5% in April, down from 8.6% in March and from 9.2% in April 2017. This is the lowest rate recorded in the euro area since December 2008.

Eurostat estimates that 17.462 million men and women in the EU, of whom 13.880 million in the euro area, were unemployed in April. Compared with April last year, unemployment fell by 1.633 million in the EU and by 1.088 million in the euro area.

Meanwhile, Euro area annual inflation is expected to be 1.9% in May, up from 1.2% in April, according to Eurostat.

Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in May (6.1%, compared with 2.6% in April), followed by food and tobacco, services and non-energy industrial goods.

Source: Kuwait News Agency