Eurozone jobless rate falls marginally, outlook uncertain

BRUSSELS, April 04: The eurozone unemployment rate improved only marginally in February, official data showed Monday, stoking concerns the economy could be slowing after only a modest recovery.Analysts said that while the economy is holding up despite recent financial market volatility and concerns over the outlook for China, job gains may not be enough to help it get it through the current soft patch.Jennifer McKeown at Capital Economics said the figures and other recent data “suggests that the eurozone’s labour market recovery is beginning to slow.”The Eurostat statistics agency said unemployment in the 19-nation eurozone fell to 10.3 percent in February, a four-and-a-half year low, from a revised 10.4 percent in January.The January figure was originally given as 10.3 percent last month and analysts had expected the February jobless rate to come in unchanged at 10.3 percent.Unemployment hit a record high 12.1 percent during the worst of the debt crisis.The European Central Bank launched a massive stimulus programme in early 2015 but to little apparent effect and last month added even more unprecedented measures in an effort to get the economy back on track.-AFP