Eurozone unemployment drops to 10.9 pct

Mario Draghi
FILE - In this Tuesday, Feb. 24, 2015, file photo, Mario Draghi, president of the European Central Bank, stands next to a facsimile of the new 20 euro banknote in Frankfurt, Germany. Analysts are already talking about when and how the European Central Bank might extend its 1.1 trillion euro ($1.2 trillion) stimulus program that has been running for the past six months in an attempt to boost the modest recovery in the 19 countries that use the euro. (AP Photo/Michael Probst, File)

BRUSSELS (AP) — Unemployment in the 19-country eurozone fell to 10.9 percent in July from 11.1 percent in June.

The European Union’s statistics agency, Eurostat, says Tuesday that the figure is the lowest since February 2012.

The rate, however, remains at an uncomfortably high level for the currency union, with 17.5 million people out of work.

The figures showed improvements in Italy, Spain and Portugal but a small increase in France, to 10.4 percent from 10.3 percent.

There remained a huge disparity between countries, with Germany’s 4.7 percent rate comparing with Spain’s 22.2 percent and Greece’s 25 percent.

blog comments powered by Disqus