Eurozone economy and employment surge at fastest rate since 1995 following pandemic contraction 

Ireland led employment growth with a 3.3% increase last quarter

The statistical office of the European Union said these were by far the sharpest increases observed since the series started in 1995. Picture: Jim Dyson/Getty Images Europe

Eurozone employment and GDP experienced its sharpest increase since records began this summer, rebounding from a Covid-19 induced contraction earlier in the year.

According to a new publication by Eurostat, seasonally adjusted gross domestic product (GDP) increased by 12.5% in the euro area and by 11.5% in the European Union in the third quarter of 2020, compared to the previous quarter.