Among countries that have adopted the euro, the rate of employment remained stable during the first three months of 2010, with 144.3 million people in work in the region.

This is according to the European Union (EU) statistics agency, which reported an increase among such nations of 0.5 per cent in financial services and business activities and the same amount for other services - including health and education - while agriculture grew by 0.2 per cent.

Latest data from Eurostat also showed employment stood 1.2 per cent lower than in the first quarter of 2009, although jobs now appear to be stabilizing and no further falls were seen in the euro area trade, transport and communication services industry.

Meanwhile, across the 27 EU member states, the rate of people in work fell by 0.2 per cent during the January to March period of 2010 and was 1.5 per cent below the same three months of the previous year.

Commenting on the report, IHS Global Insight said it "adds to the recent better news on the Eurozone labor market" and is the result of a return to economic growth in the eurozone, coupled with improving business confidence.

Posted by Alex Donnell