Euro Area: Unemployment hit new record lows in January
Latest reading: In January, the seasonally adjusted unemployment rate dropped to a new record low of 6.1%, following a 6.2% rate in the prior month. January result undershot market estimates.
As for the Eurozone’s largest economies, the unemployment rate fell in France, Italy and Spain while was unchanged Germany and the Netherlands.
Significant disparities in labor market conditions between members persist: Finland was the economy with the highest unemployment rate in January (10.0%), followed by Spain (9.8%). At the other end of the spectrum, Bulgaria (3.1%) and Malta (3.4%) had the lowest unemployment rates.