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EU unemployment at near eight-year low

dpa logodpa 3/04/2017

The unemployment rate in the eurozone slipped from 9.6 per cent in January to 9.5 per cent in February, its lowest level in nearly eight years.

Unemployment in the eurozone fell to a near eight-year low in February, adding to signs that growth in the 19-member economy is gaining momentum.

The unemployment rate in the currency bloc slipped from 9.6 per cent in January to 9.5 per cent in February after jobless queues across the region shrank by 140,000, according to figures released on Monday by the European Union's statistics office Eurostat.

The unemployment rate in the eurozone now stands at its lowest level since May 2009.

However, a total 15.439 million people were without work in February, Eurostat said.

At 3.9 per cent, Germany recorded the lowest jobless rate in the eurozone.

Greece and Spain, however, remained in the unenviable position of posting the currency bloc's highest unemployment rate.

The latest data showed the jobless rate in Greece standing at 23.1 per cent in December 2016 and 18 per cent in Spain in February.

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