Euro Area: Unemployment rate hits new record low 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’s result undershot market estimates.
As for the Eurozone’s largest economies, the unemployment rate fell in France, Italy and Spain and 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.