Euro zone unemployment rate falls 11.3% in February from 11.4%

Investing.com –

Investing.com – The euro zone’s unemployment rate fell to the lowest level since June 2012 in February, boosting optimism over the health of the region’s economy, official data showed on Tuesday.

In a report, Eurostat said that the euro zone’s unemployment rate fell to a seasonally adjusted 11.3% last month from 11.4% in January, whose figure was upwardly revised from a previously reported reading of 11.3%. Analysts had expected the jobless rate to fall to 11.2% in February.

The data showed that among the member states, the lowest unemployment rates were recorded in Germany (4.8%) and Austria (5.3%), and the highest in Greece (26.0% in December 2014) and Spain (23.2%).

EUR/USD was trading at 1.0721 from around 1.0723 ahead of the release of the data, while EUR/GBP was at 0.7265 from 0.7263 earlier.

Meanwhile, European stock markets remained mixed in subdued trade. The EURO STOXX 50 inched up 0.1%, Germany’s DAX tacked on 0.1%, France’s CAC 40 added 0.1%, while London’s FTSE 100 dipped 0.25%.

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