Sustained recovery The euro area has been expanding for the past four years and the recovery has gained momentum. The GDP in the euro area has finally reached a level above that in 2007, 10 years after the crisis. Robust economic activity is further being translated into a substantial amount of job creation.
Despite the unemployment rate still being too high, almost 7 million more people are now employed in the euro area than in mid-2013, which implies that the employment losses recorded during the crisis have been offset. This stands in contrast to the largely jobless recovery of 2010 and is another indication of the sustained recovery in the euro area.