The euro zone's unemployment rate fell further in April, down 0.1 percentage point, as a strong job market pushed it to its lowest level since the euro zone was created in 1999.
Data released on Thursday by the European Union's statistics agency Eurostat showed the seasonally adjusted unemployment rate in the euro zone fell to 6.4 percent, with just under 11 million people unemployed, down from 6.5 percent in March.
Across the EU, numbers increased by 6% to 13.1 million, remaining at the same level as the previous month.
Italy's unemployment rate fell to 6.9 percent in April, down from a downwardly revised 7.1 percent in the previous month, separate data released on Thursday showed. Around 84,000 jobs were created in the month.
National statistics agency ISTAT reported that the unemployment rate in April was the lowest since December 2008.
Meanwhile, in the United States, the number of people applying for unemployment benefits rose slightly last week, but the underlying strength of the labor market is still showing signs of persisting and should continue to support the economy.
The Labor Department said on Thursday that new claims for state unemployment insurance rose by 3,000 to a seasonally adjusted 219,000 for the week ended May 25. Economists surveyed by Reuters had expected claims to be 218,000 for the latest week.
Since March 2022, the labor market has been steadily rebalancing as a result of the Federal Reserve raising interest rates by the equivalent of 525 basis points to stabilise demand across the economy. – Financial Times, Reuters
