EU employment rate hits new record in 2016

Eurostat, the statistical office of the European Union (EU), released data on Tuesday showing that the employment rate of people aged 20 to 64 in the bloc had hit a new peak of 71.1 percent in 2016, 1.0 percent higher than the 70.1 percent of 2015.

Compared with the previous year, in 2016, the employment rate of people aged 20 to 64 increased in nearly all EU member states except Luxembourg.

Among them, the highest employment rate was recorded in Sweden, which was 81.2 percent. It was followed by Germany's 78.7 percent and Britain's 77.6 percent, according to Eurostat.

By contrast, the weakest employment rate was recorded in Greece, which was 56.2 percent. This was followed by Croatia and Italy, which were 61.4 percent and 61.6 percent respectively.

Notably, the employment rate of people aged 55 to 64 in the bloc has grown steadily since 2002. It reached 55.3 percent in 2016, compared with 38.4 percent in 2002.

The Europe 2020 strategy target is to reach a total employment rate for people aged 20 to 64 of at least 75 percent in the bloc by 2020. A quarter of the bloc's 28 member states already achieved the target in 2016, said the agency.

Greater participation of older workers is one of the objectives of the Europe 2020 strategy.

More than two-thirds of persons aged 55 to 64 have a job in Sweden, Germany and Denmark, the Eurostat said, compared to Greece, Croatia and Slovenia where less than half of the older workforce population have jobs.