EU’s unemployment rate drops to 7.7% in March

European Union’s statistics agency, Eurostat, on Tuesday said unemployment in the eurozone has fallen to 7.7 per cent in March from 7.8 per cent in February.

According to the agency, Eurostat’s seasonally-adjusted figure marks the lowest rate recorded in the 19-member currency bloc since September 2008.

In March, 12.6 million people were out of work across the eurozone, down by 174,000 from the previous month.

Meanwhile, adjusted youth unemployment fell to 16 per cent in March, down from 16.1 per cent in February.

The EU’s lowest unemployment rate was recorded in the Czech Republic at 1.9 per cent.

“Within the eurozone, the lowest figures were in Germany (3.2 per cent) and the Netherlands (3.3 per cent).

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“The highest rates were in Greece, where the most recent data show unemployment at 18.5 per cent in January and Spain, at 14 per cent.

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“Across the 28-member EU, unemployment was 6.4 per cent in March, down from 6.5 per cent in February.

“This is the lowest rate since Eurostat started compiling monthly data in January 2000,’’ the agency said.