Eurozone unemployment falls to its lowest point since 2009

Eurozone unemployment undershot estimates on Wednesday, coming in at a better-than-expected 9.3% for April.

Economists had expected an unemployment rate of 9.4% for the 19-country currency bloc, which itself would have been a drop on March’s reading of 9.5%.

Across the 28-member European Union the unemployment level stood at 7.8% for April, Eurostat said in a release, down from 7.9% in the prior month.

The unemployment rate represents the best reading since March 2009 for the eurozone, when unemployment was rapidly rising as a result of the financial crisis.

The lowest unemployment rates in April were recorded in the Czech Republic (3.2%), Germany (3.9%) and Malta (4.1%). The highest were in Greece (23.2% in February 2017) and Spain (17.8%), Eurostat said.

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