Release Explanation: Measures the number of jobs created, or the percentage of employed/unemployed in the labor market. Over time the Employment Data will affect all economic releases, it does however take time for labor trends to form.

Trade Desk Thoughts: The unemployment rate in the Euro-area continues to rise. The latest release, for the month of February, shows that the unemployment rate reached 8.5%, more than was expected.

The unemployment rate for the month of January was also revised higher, to 8.3%. About 13.486 million persons were unemployed in the Euro-area, up by 319K from one month earlier. From one year ago, the unemployment rate rose by 1.3%, or 2.125 million persons.

Among the member states, the highest unemployment rate was observed in Spain, at 15.5%, while the lowest was recorded in Netherlands, 2.7%. The biggest yearly gains were seen in Lithuania (4.4% to 13.7%), Latvia (6.1% to 14.4%) and Spain (9.3% to 15.5%).

Forex Technical Reaction: The euro had little reaction to the news release. Since the new trading day started, the pair fell 40 pips.