Euro jobless rate glued at 10 percent

Eurozone unemployment has been unchanged since March


Source: Press TV
http://www.presstv.ir/detail/140839.html


The unemployment rate across the eurozone has remained at a record rate of 10 percent in July for the fifth month running, official figures show.

According to European Union data (Eurostat) released on Tuesday, some 15.8 million people within the 16-nation eurozone were jobless in July as the eurozone unemployment rate remains at its highest level since the euro's virtual birth in 1999.

Although the overall unemployment for the eurozone remained flat, the situation differed from country to country.

Germany, Austria and Malta recorded declines in their unemployment rates compared to a year earlier, while Spain retained the bloc's highest jobless rate of 20.3 percent, seasonally-adjusted Eurostat figures showed.

Throughout the wider 27-nation EU the rate also remained unchanged at 9.6 percent, which amounts to more than 23 million unemployed in July.

Eurostat also said Tuesday that the currency zone's annual inflation rate plunged in August, suggesting that the European Central Bank has plenty of room to continue its ultra-loose monetary policy.

Data show the inflation rate for the 16 countries that share the euro eased to 1.6% in August from 1.7% in July.