Euro area unemployment rate likely to decline further in May

The  Euro area unemployment rate has trended lower since mid-2013 despite growth being modest in the period reflecting that potential growth is very low in the euro area. 

"We expect the euro area unemployment rate to decline further to 11.0% in May. Looking further ahead, we expect the unemployment rate to approach the long-term structural level of around 10% in end-2016." estimates Danske Bank Markets