Euro zone Q4 employment falls 0.2 pct qtr/qtr

BRUSSELS, March 15 (BestGrowthStock) – The euro zone lost 347,000
jobs in the last quarter of 2009, data showed on Monday, as the
16-country area’s economic recovery remained beset by fragility.

The number of employed fell 0.2 percent in the final three
months of the year against the previous quarter to 144.3
million, pulled down by job losses in the industrial sector,
European Union statistics office Eurostat said. [ID:nBRQ009767]

Employment during the fourth quarter fell 2.0 percent
year-on-year.

The data showed that although the euro zone is recovering
from the worst economic crisis since World War Two, it continues
to shed jobs, hitting people’s spending power and undermining
future growth.

Eurostat said employment fell 1.1 percent quarter-on-quarter
in manufacturing, 0.4 percent in construction, 0.5 percent in
trade, transport and communications and 0.1 percent in the
financial sector.

Employment in the public sector, health care and
administration increased 0.2 percent.

The steepest drops were registered in Greece and Spain, both
at 0.8 percent. The two countries have been hit especially hard
by the crisis, with Greece undergoing a severe austerity
programme after years of overspending.

The euro zone’s unemployment stayed flat in January from the
previous month at 9.9 percent. Joblessness last reached such a
level in October 1998.

Investing Tools
(Reporting by Marcin Grajewski, editing by Dale Hudson)

Euro zone Q4 employment falls 0.2 pct qtr/qtr