Euro area unemployment rate to resume its slow downward trend – RBC CM

The analysis team at RBC Capital Markets expect the Euro area unemployment rate to resume its slow downward trend, ticking down to 9.4% again in April.

Key Quotes

“In March, the unemployment rate was unchanged at 9.5%. For April, we expect the rate to resume its slow downward trend, ticking down to 9.4% again mainly due to robust employment growth in Spain, though with the French labour market expected to have made a positive contribution last month.”