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Employment Down by 0.5% in Euro Area

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By Douglas A. McIntyre Published
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More depressing news out of Europe:

The number of persons employed decreased by 0.5% in the euro area (EA17) and by 0.2% in the EU27 in the first quarter of 2013 compared with the previous quarter, according to national accounts estimates published by Eurostat, the statistical office of the European Union.

In the fourth quarter of 2012, employment decreased by 0.3 % in the euro area and by 0.1% in the EU27.

These figures are seasonally adjusted. Compared with the same quarter of the previous year, employment fell by 1.0%
in the euro area and by 0.4 % in the EU27 in the first quarter of 2013 (after – 0.8 % and – 0.5 % respectively in the
fourth quarter of 2012).

Eurostat estimates that, in the first quarter of 2013, 221.9 million men and women were employed in the EU2 7, of which 145.1 million were in the euro area.

And:

Among those Member States for which data are available, Lithuania (2.4%), Estonia (2.3%) and Latvia (1.0 % ) recorded the highest growth rates compared with the previous quarter, while Greece (-2.3%), Portugal (-2.2%) Spain and Cyprus (both -1.3 %) and Italy (- 1.2%) registered the largest decreases.

Not a single surprise in the figures

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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