Market Updates: Eurozone Quarterly Unemployment Rate Jumps
Arslan Butt • 1 min read
For all the newbies, unemployment rate shows a percentage of total workforce that is unemployed and actively seeking employment during the previous quarter.
Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.
According to ISTAT, the Eurozone Quarterly Unemployment Rate soared to 10.62 vs. 10.3 previously.
The figure is worse than the previous ones especially the 10.2 and 10.3 released in September and December. So far, the Euro has a muted impact as investors got bigger figures to trade during the New York session.