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Eurozone unemployment stuck at 10.1%

dpadpa 31/08/2016

Unemployment in the eurozone remained stuck in July at 10.1 per cent, its lowest level in five years, new data shows.

Unemployment in the eurozone remained stuck in July at 10.1 per cent, its lowest level in five years, new data shows.

The European currency union has made some progress in whittling down its jobless rate since it hit a record 12.1 per cent in 2013, but many still consider it to be unacceptably high.

The number of people out of work in the eurozone did decrease by 43,000 from June to July, but the drop was not enough to alter the seasonally adjusted unemployment rate, the EU statistics agency Eurostat said on Wednesday.

A total of 16.3 million people were out of work in the 19-country eurozone in July. Just under 3 million of them were under the age of 25, leading to a youth unemployment rate of 21.1 per cent.

Malta, the Czech Republic and Germany continued to record the lowest jobless rates, with overall unemployment at around four per cent. Malta and Germany also posted the lowest youth unemployment at just over 7 per cent.

Athens and Madrid, meanwhile, had the highest figures, with overall unemployment around 20 per cent and youth unemployment at almost 44 per cent in Spain and topping 50 per cent in Greece in May, the most recent figures available for that country.

In the wider, 28-country European Union, unemployment remained unchanged at 8.6 per cent, its lowest rate in more than seven years.

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