Eurozone employment growth accelerated slightly in the 4th quarter of 2018

Eurostat, the statistical office of the European Union, said, the number of persons employed increased by 0.3% in the euro area and by 0.2% in the EU28 in the fourth quarter of 2018 compared with the previous quarter. In the third quarter of 2018, employment increased by 0.2% in both zones.

Compared with the same quarter of the previous year, employment increased by 1.3% in the euro area and by 1.2% in the EU28 in the fourth quarter of 2018 (after +1.4% and +1.3% respectively in the third quarter of 2018). Over the whole year 2018, employment rose by 1.5% in the euro area and by 1.3% in the EU28. The annual growth rate for 2017 was +1.6% for both the euro area and the EU28.

Based on seasonally adjusted figures, Eurostat estimates that in the fourth quarter of 2018, 239.8 million people were employed in the EU28, of whom 158.9 million were in the euro area. These are the highest levels of employment ever recorded in both areas. More specifically, the number of persons employed has increased by 10.2 million in the euro area and 15.7 million in the EU28 since the lowest level of employment after the financial crisis (2013 Q2 for euro area, 2013 Q1 for EU28).