Eurozone dealt unemployment and inflation double-blow

14th June 2013

The beleaguered eurozone has been dealt a double-blow as latest figures show the rate of unemployment and inflation continue to creep up.

The number of employed dropped by 0.5% in the eurozone in the first three months of the year, compared to the same period in 2012 according to Eurostat, the statistical office for the European Union. In the fourth quarter of 2012, employment decreased by 0.3% in the euro area.

Eurostat estimates that, according to seasonally adjusted data, in the first quarter of 2013, more than 145m men and women were employed in the euro area.

In addition eurozone annual inflation was 1.4% in May 2013, up from 1.2% in April. A year earlier the rate was 2.4%. Monthly inflation was 0.1% in May 2013.

The largest upward impacts on euro area annual inflation came from fruit and vegetables, up 0.11 percentage points and electricity, 0.09% higher, while fuels and telecommunications dropped back.

 

Leave a Reply

Your email address will not be published. Required fields are marked *