Unemployment in Europe remained steady in February

The unemployment rate in the Eurozone remained at 6.5% in February, while the Consumer Price Index (CPI) was determined to be 2.4% on an annual basis in March.

Brussels Eurostat, the statistical office of the European Union (EU) and the Eurozone, released unemployment data for February.

According to the data, the seasonally adjusted unemployment rate in the EU, which was 6% in January, remained at the same level in February.

In the Eurozone, unemployment, which was 6.5% in January, remained unchanged in February.

The unemployment rate in the Eurozone was measured at 6.6% in the same period last year, while it was 6% in the EU.

In February, the unemployment rate was 11.5% in Spain, 11% in Greece, 8.1% in Sweden, 7.5% in Italy, and 7.4% in France.

The number of unemployed in the EU was calculated as 13 million 249 thousand in February. Of these, 11 million 102 thousand were in the Eurozone.

In February, the number of young unemployed under the age of 25 was determined as 2 million 899 thousand in the EU and 2 million 319 thousand in the Eurozone. The youth unemployment rate was measured at 14.8% in the EU and 14.6% in the Eurozone.

Annual inflation in the Eurozone reached 2.4% in March According to the data, annual inflation, which was 2.6% in February in the Eurozone, was determined to be at the level of 2.4% in March. The CPI showed an increase of 0.8% on a monthly basis in March.

Market expectations were for annual inflation in the Eurozone to be 2.5% in March.

Looking at the main components of inflation, the highest annual price increase was observed in services at 4%. The service sector was followed by food, alcohol, and tobacco products at 2.7%, and non-energy industrial products at 1.1%, while energy product prices declined by 1.8%.

Core inflation in the Eurozone was measured at an annual rate of 2.9% and a monthly rate of 0.9% in March.

According to harmonized data, inflation was determined to be 2.3% in Germany, 2.4% in France, 1.3% in Italy, and 3.2% in Spain in March.

source: prepared by Melisa Beğiç

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