Eurozone Unemployment Falls to Lowest Level since May 2008, Greece’s at 16.6%

January 30, 2020

BRUSSELS — Unemployment across the 19 countries that share the euro currency has fallen to its lowest level in nearly 12 years, official figures showed Thursday.

The European Union’s statistics agency said the jobless rate fell to 7.4% in December from 7.5% the month before. Unemployment is now at its lowest rate since May 2008 and only 0.1 percentage point above its lowest ever reading. Overall, Eurostat said unemployment in the eurozone fell by 34,000, to 12.25 million.

Unemployment has been falling steadily across the eurozone over the past few years, particularly in the countries that were at the forefront of the region’s debt crisis. However, disparities remain. Germany’s unemployment rate, according to Eurostat, stands at just 3.2%, way below the 13.7% and 16.6% rates in Spain and Greece, respectively.

“While improvements in the labor market have slowed over the past few quarters, continued job growth does provide an important tailwind for the eurozone service sector and is set to continue in the months ahead as businesses remain relatively upbeat about hiring expectations,” said Bert Colijn, senior eurozone economist at ING.

The outlook, though, will largely hinge on developments in the global economy and especially on whether there is an escalation in trade tensions, not least between the United States and China.

Figures on Friday are set to show that inflation in the eurozone remains fairly subdued, certainly below the European Central Bank’s target of just below 2%, and growth relatively tepid.


With the COVID-19 pandemic all but forgotten - despite still hospitalizing and killing people - tourists in 2023 returned to Greece in such numbers the sector is on a path to break records set in 2019 before the Coronavirus struck.

Top Stories


A pregnant woman was driving in the HOV lane near Dallas.

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.


Greek, Turkish Leaders Signal Markedly Improved Ties Between the Two NATO Allies (Video)

ATHENS — After several years of strained relations that raised tensions to alarming levels, longtime regional rivals Greece and Turkey made a significant step Thursday in mending ties during a visit to Athens by Turkish President Recep Tayyip Erdogan.

WASHINGTON — While Alex Ovechkin reached another milestone, the Dallas Stars handed him and the Washington Capitals another loss in a game they felt they desperately needed to win.

Derek Chauvin was stabbed nearly two dozen times in the law library at a federal prison in Arizona.

BOSTON – Athanasios Sioras brought another piece of Greece to the city of Salem in New Hampshire, opening a kiosk, a kind of small, open store featuring Greek products within the shopping complex at the well-known Mall, located at 275 Rockingham Park Blvd.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.