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Employment slowly improving in Euro area’s two-speed economy
EMPLOYMENT in the Eurozone was stable in the first quarter of the year, rising just 0.1 per cent on the final three months of last year, Brussels’ statistics office revealed yesterday.
At the end of last year, employment grew by 0.2 per cent in the 17-country single currency area.
“Flat Eurozone employment in the first quarter masked significantly differing performances amid the individual economies,” commented Howard Archer of IHS Global Insight.
“Germany saw ongoing healthy growth in employment, while there was also decent increases in most of the other core Northern Eurozone economies including France,” Archer added. “In contrast, Spanish and Portuguese employment continued to fall, while there was a renewed, sharp drop in Italy.”