The number of employed people in the European Union countries increased by 0.2% in the third quarter of 2016 compared to the previous three months, show latest Eurostat data. Compared to the same period last year, the growth was even higher to 1.1%, shows the statistics. Economics Wire recall that during the second quarter, the employment growth in the EU was respectively 0.3% mom and 1.4% yoy.
The total number of employees in the European Union amounted to 232.5 million people during the third quarter. This is the highest ever measured level of employment in the EU, showing stability of the labor market and underlining the stable foundations of the economy.
The largest employment growth from the previous three months indicate Portugal (+1.3%), Spain (+0.8%) and Luxembourg (+0.7%), as well as Ireland, Cyprus and Slovakia (all +0.6%). The largest decline of employment is reported in Latvia (-1.5%), Estonia (-1.0%) and Bulgaria (-0.7%).
Latvia recorded the fastest annual drop in employment among the European Union’s member states. The country recorded drop in the number of employed individuals decline by 1.5%. The employment also dropped by 1% in Estonia, 0.4% in Lithuania, 0.3% in Sweden, and 0.1% in Italy.
Meanwhile there were 153.4 million people employed in the Eurozone (19-member currency bloc), which is the highest that figure has been since the end of 2008.
Employment covers employees and self-employed working in resident production units (i.e. the domestic employment concept). Unless otherwise stated, all employment estimates in this release use persons as the measurement unit.
more recommended stories
Banco de Mexico Holds Interest Rates at 7%
Inflation in Mexico was 6.4% higher.
Aging Japan Puts a Strain on the Financial System
Japan’s population is shrinking and getting.
Tax Foundation: Beer Cheaper than Soda in Philadelphia
As cities search for ways to.
How Greece could escape debtors’ prison – if Europe opens the door
Greece has acted out a European.