According to the report from Eurostat, the number of persons employed decreased by 0.2% in the euro area and by 0.1% in the EU in the first quarter of 2020 compared with the previous quarter. This is the first decline in the time series since the second quarter of 2013 for the euro area and the first quarter of 2013 for the EU. In the fourth quarter of 2019, employment increased by 0.3% in the euro area and by 0.2% in the EU.
Compared with the same quarter of the previous year, employment increased by 0.4% in both the euro area and the EU in the first quarter of 2020 (after +1.1% and +1.0% respectively in the fourth quarter of 2019).
Based on seasonally adjusted figures, Eurostat estimates that in the first quarter of 2020, 209.1 million people were employed in the EU, of which 160.4 million were in the euro area. In relation to the COVID-19 pandemic, employment in persons decreased by 0.3 million in the euro area and by 0.2 million in the EU compared with the fourth quarter of 2019.
While the effect of the COVID-19 pandemic on employment in persons was mitigated by government support schemes, the impact on hours worked is generally much more pronounced. The number of hours worked decreased by 3.1% in the euro area and by 2.6% in the EU in the first quarter of 2020, compared to the previous quarter.
Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.
© 2011-2021 Teletrade-DJ International Consulting Ltd
Teletrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.
The company operates in accordance with the Markets in Financial Instruments Directive (MiFID).
The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. Teletrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.
TeleTrade cooperates exclusively with regulated financial institutions for the safekeeping of clients' funds. Please see the entire list of banks and payment service providers entrusted with the handling of clients' funds.
Teletrade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.