Eurozone employment rose for the first time in nearly three years in the last quarter of 2013 adding to signs of the bloc’s gradual economic recovery, with clear improvement also in the most troubled southern region.
Employment in the eurozone inched up 0.1 per cent quarter-quarter in the last three months of 2013 after staying flat in the previous two-quarters.
It was still 0.5 per cent lower year-on-year, but the pace of contraction slowed further from -0.8 per cent in the third quarter of 2013 and -1.1 in the second.
It was the first rise in employment in the eurozone since the second quarter of 2011, the EU’s statistics office Eurostat said yesterday.
Spain, which has one of the highest unemployment rates in Europe of around 26 per cent, saw employment rise 0.6 per cent on the quarter.
Greece, where unemployment is around 28 per cent of the workforce, also saw a 0.2 per cent rise in the number of people with jobs in the last quarter of 2013.
Portugal, which is to exit its international bailout in mid-year, showed a 0.7 per cent rise in the number of employed quarter-on-quarter and even a 0.5 per cent year-on-year increase.