(05 October 2017) – The latest Quarterly Review on Employment and Social Developments in Europe shows that the EU’s economy continues its expansion in all Member States with a growth of2.4 % in the EU and 2.3 % in the euro area over the last year. .
This also translated in an improvement of EU households’ financial situation with greater income from work, while the increase in social benefits came to a halt. Nearly all Member States continued to see growth in household income between the first quarter of 2016 and the first quarter of 2017.
Further figures on the labour market confirm the improved health of the EU economy:
• Unemployment rate in the EU (7.6%) and euro area (9.1%) has continued its steady decline since mid-2013 in almost all Member States.
• Long-term unemployment rate, which has been decreasing for three years, declined by further 0.5 percentage points in the year to the first quarter of 2017.
• The number of employees with permanent contracts grew by 1.4 % in the year to the first quarter of 2017.
• EU employment increase over the past four years has particularly benefited the younger generation.