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Latest data reveal that Euro zone employment rose by 0.3% in Second quarter compared to 0.2% in the first and better than analysts' expectation of just 0.1% growth.
However, just as Mr. Draghi, governor of European Central Bank pointed to financial fragmentation, Euro zone unemployment growth remains equally fragmented.
Regional employment growth review
- Largest increase in employment, compared to previous quarter was seen in Portugal (+1.3%), followed by Greece (+1.2%), Ireland (+0.9%), Spain (+0.9%), Estonia (+0.8%), Luxembourg (+0.7%) and Slovakia (+0.7%).
- Largest drop in employment was registered in Finland (-0.3%), followed by Lithuania (-0.1%).
- Below average growth was registered in countries like France, Germany, Cyprus, Latvia, Belgium, Italy, Netherlands and Austria.
Though Euro zone employment and growth, both headed in right direction, it remains too fragile to withstand headwinds from slowdown in China and debt crisis across emerging markets.
European Central Bank is likely to take further action to loosen monetary policy further.
