Unemployment in the eurozone fell to 6.8% in March

According to the European statistical agency Eurostat, unemployment in the eurozone fell to 6.8% in March. The previous figure in February was recorded at 6.9%. Analysts predicted a decline in unemployment to 6.7%.

At the same time, unemployment in all EU countries also fell by 0.1 percentage points in March – to 6.2% from the revised February figure of 6.3%. 

In annual terms, unemployment in the eurozone was 8.2%, and in the EU – 7.5%.

The total number of unemployed in the EU in March 2022 amounted to 13.374 million people, including 11.274 million in the euro area.

The lowest unemployment rate among all EU countries was found in the Czech Republic (2.3%), Germany (2.9%), Poland (3%) and Malta (3%). The highest level was observed in Spain (13.5%) and Greece (12.9%).

At the same time, the producer price index (PPI) in the euro area rose to 5.3% mom in March against the forecast of 5% and the previous result of 1.1%. On an annualized basis, PPI grew by 36.8% in March, surpassing forecasts for growth of 36.3% and the February figure of 31.5%.