The Eurozone or Euro area (EA) seasonally-adjusted unemployment rate was 7.7% in March 2019, down from 7.8% in February 2019 and from 8.5% in March 2018. This is the lowest rate recorded in the euro area since September 2008.
The European Union (EU) unemployment rate was 6.4% in March 2019, down from 6.5% in February 2019 and from 7.0% in March 2018. This is the lowest rate recorded in the European Union since January 2000.
Seasonally adjusted GDP rose by 0.4% in the Eurozone or Euro area (EA) and by 0.5% in the European Union during Q1 (first quarter) of 2019, compared with Q4 2018, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union.
The 1980s was the Japanese decade with Japanese companies being the most valuable ones in the world and Japan being at the centre of the global economic growth. But since the 1990s, Japan has struggled with growth and deflation.
The Governing Council of the European Central Bank (ECB) expects the key ECB interest rates to remain at their present levels at least through the end of 2019.
The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility are 0.00%, 0.25% and -0.40% respectively and these rates are expected to remain in place at least until the end of 2019.
The European Commission slashed their GDP growth forecast for the European Union (excluding the United Kingdom) and the Eurozone for 2019 and 2020 citing slowing growth in China and weakening global trade.
The growth forecast for 2019 for the European Union (excluding the United Kingdom) was cut to 1.5% for 2019 (was previously forecast 2%) and for the Eurozone was cut to 1.3% (was previously forecast 1.9%).
Germany, Italy and the Netherlands all saw big downgrades for their growth outlook.
22 out of the 28 Member States of the European Union (EU) currently have national minimum wages. The 6 countries in the EU that do not currently have any minimum wage level set are Denmark, Italy, Cyprus, Austria, Finland and Sweden.