Friday 20 April 2018

Euro zone employment shows no change in third quarter

The number of people with jobs in the euro zone was unchanged for the second consecutive quarter in the three months to September, showing the bloc's economic recovery has not yet filtered through to the labour market.

But euro zone employment was shrinking more slowly than a year ago on a year-on-year basis -- it contracted 0.8 percent in the third quarter against -1.1 in the previous three months, data from the EU's Eurostat showed on Friday.

The unemployment in the €9.5 trillion economy, ravaged by 4 years of financial and economic crisis, remains near a record high above 12pc and is expected to ease only gradually next year as economic growth slowly picks up.

Job creation, like the uneven economic recovery, differs from country to country and from sector to sector.

While Europe's largest economy Germany saw a quarterly 0.2pc rise in employment, the second largest France registered no change for a third consecutive quarter.

Job creation was also flat in Italy and it fell in Spain, but the situation in both euro zone countries was improving since the beginning of this year, data showed.

Agriculture, industry and construction all showed a 0.3pc drop in employment compared with the previous quarter, while real estate, professional and support activities were up 0.4pc.

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