Release Explanation: Measures the number of jobs created, or the percentage of employed/unemployed in the labor market. “Over time the Employment Data will affect all economic releases, it does however take time for labor trends to form,” TheLFB-Forex.com Trade Team said.
TheLFB-Forex.com Trade Desk Thoughts: The unemployment rate in the Euro-area continues to rise. The latest release, for the month of March, shows that the unemployment rate reached 8.7%, more than was expected.
The unemployment rate for the month of February was also revised higher, to 8.7%. About 14.158 million persons were unemployed in the Euro-area, up by a huge 419K from one month earlier. From one year ago, the unemployment rate rose by 1.2%, or 2.816 million persons.
Among the Member States, the lowest unemployment rate was recorded in the Netherlands (2.8%), and the highest rates in Spain (17.4%), Latvia (16.1%) and Lithuania (15.5%). Except for Austria, all the other member states reported higher unemployment rate in March from one-month earlier
Forex Technical Reaction: The euro rose sharply during the London session, but now the pair has peaked near the 1.3380 resistance area. Against the pound, the euro lost 30 pips.
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European Unemployment Rate Rises To The Highest Level Since 2005
Published 12/31/2000, 07:00 PM
Updated 04/30/2009, 05:33 AM
European Unemployment Rate Rises To The Highest Level Since 2005
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