Euro zone employment shows no change in Q3

/Euro zone employment shows no change in Q3

Euro zone employment shows no change in Q3

The number of people with jobs in the euro zone was unchanged for the second consecutive quarter in the three months to September.

The figures showed that 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% in the third quarter against -1.1 in the previous three months, data from Eurostat showed.  

The unemployment in the €9.5 trillion economy, ravaged by four years of financial and economic crisis, remains near a record high above 12%.

It 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.   

Ireland’s employment rate grew by 1.1% in the third quarter of 2013 compared with the second quarter. This compares very favourably with EU member states and is second only to Portugal (1.2%).

Europe’s largest economy Germany saw a quarterly 0.2% rise in employment, while 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 0.3% drop in employment compared with the previous quarter, while property, professional and support activities were up 0.4%.

RTÉ News – Business Headlines

By | 2013-12-15T12:09:03+00:00 December 15th, 2013|Uncategorized|0 Comments