BRUSSELS – Official figures show that unemployment across the 18-country eurozone is falling as the region continues to recover from its longest-ever recession.
Eurostat, the EU's statistics office, says Friday that unemployment in March fell to 18.91 million from 18.94 million the month before. Despite the drop, the rate was unchanged at 11.8 percent. That's still down on the peak of 12 percent recorded in 2013.
The hope across Europe is that the recovery and the calmer financial market backdrop in many of the more indebted countries, such as Greece and Spain, will lead to a consistent fall in unemployment over the months ahead.
Figures later this month are expected to show the recovery continued in the first quarter of 2014. A number of surveys have pointed to a pick-up in growth.