The Euro-Zone's unemployment rate ticked up, as expected, to 10.0% in February from 9.9% in January. February's rate is the highest for the 16-member monetary union since August of 1998.
The Unemployment Rate released by the Eurostat is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the European Economy. If the rate is up, it indicates a lack of expansion within the European lobar market. As a result, a rise leads to weaken the European economy. Generally speaking, a decrease of the figure is seen as positive (or bullish) for the EUR, while an increase is seen as negative (or bearish).
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