EU employment situation faces headwinds in third quarter

The number of employed persons in the euro area declined by 0.1% in the third quarter, according to preliminary findings from the European Union.

Eurostat, the statistical office of the European Union, found that signs the employment situation was improving in the second quarter, when figures increased by 0.2%, were largely negated by subdued activity in the third.

Approximately 146.9m persons were registered as employed in the euro area for the third quarter.

Real estate activities and construction demonstrated the largest falls in employment, by 1.2% each.  The only rises were registered in administration and other public services which both rose by 0.1%.

Although these preliminary figures indicate a slowdown in job creation activity, employment grew by 0.2% compared with that of the third quarter of 2010.

Unemployment in the euro area soared to record levels in November as 16.3m people in the euro area were thought to be out of work.

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