Employment up by 0.3% in Euro Area and by 0.1% in the EU

The latest employment data from Eurostat has revealed encouraging trends, as the total amount of employment for the fourth quarter last year, rose by 0.3% in the euro area.

For the third quarter of 2015, employment had also risen by 0.3% for the euro area,  and for the whole of the European Union (EU).

The data  for the fourth quarter of last year were not so positive for the EU, as employment growth eased down to 0.1%.

When compared to the same quarter of 2014, employment has grown by 1.2% in the euro area, and by 1% in the EU.

After year on year rises of 1.1% and 1% in the euro area and the EU respectively, in the third quarter of 2015.

Malta celebrated the highest rise in employment figures out of all the 28 member states, with an increase of 1.7% who found new positions.

They were followed by Cyprus, where employment  rose by 0.8% , while Spain, Luxembourg, Poland, Portugal and Sweden all found increases of 0.7%.

The main decreases in job creation were found in Estonia with  2.4% fall in employment, while the United Kingdom recorded a minus 1%, and Lithuania minus 0.3%. 

Germany Reports Strongest Increase in Private Consumption Expenditure Since 2000

Private consumption expenditure in Germany has increased according to official figures, rising by 1.9% year on year in 2015, this was the strongest upsurge since the year 2000.

Consumer confidence was highlighted as one of the main reasons for the acceleration in spending, coupled with  the increase of products’ prices.

When measured against current prices including inflation, the total of  private consumption expenditure was up 2.6%, reaching 1.63 trillion euros.

At the current level of costs, households in 2015 have spent 6% more on accommodation, food and beverages.

And there has been a 3.4% rise on furnishings and household equipment.

Due to the declining heating oil prices, consumption expenditure for housing, water, electricity, gas and other fuels increased by a relatively slow 1.1%.

The Federal Statistical Office, also found that there has been a rise of 56,000 jobs in the manufacturing sector in January this year, compared to the corresponding month in 2015.

In percentage terms the increase was 1.1%, total earnings amounted to 21.2 billion euros, which was 3.5% more than in January 2015.

 Month on Month Increase in French Consumer Prices 

The National Institute of Statistics and Economic Studies (INSEE), revealed that for February consumer prices hiked by 0.3%, which was significant rise month on month, from the minus 0.1% that was found in January.

In contrast, the year on year figure was less positive, as price fell by 0.2%, the first yearly comparisons to be a negative score since March 2015.

The movements in prices year on year, are explained by the variations in the costs of energy and the service sector, according to the INSEE.

Whereas the month on month changes, have been dictated mainly by the rebound on manufacturing prices, after the winter sales had ended, and in the prices in the tourism industry over the holiday period.

Also, petrol prices continued to fall in February, while food prices remained stable.