Unemployment Rate in Eurozone Falls to 6.5% in March

According to data from Eurostat, the statistical office of the European Union, the unemployment rate in the Eurozone dropped to 6.5% in March, indicating a further tightening of the labor market and potentially posing more challenges for the European Central Bank in its efforts to curb inflation.

The unemployment rate for March was lower than Reuters’ expectations, which had suggested no change from February’s rate of 6.6%.

The number of unemployed individuals decreased to 11.01 million in March from 11.131 million in February.