Euro jobless rate at 7.2 per cent
Slowing economy contributes to a 7.2 per cent jobless rate in EU, it's statistics agency Eurostat said on Tuesday.
By Agencies |
BRUSSELS: The euro economy's jobless rate was 7.2 per cent in both April and May as growth braked on higher fuel and food prices, the EU statistics agency Eurostat said on Tuesday.
Eurostat revised upward its April figure for unemployment in the 15 nations that share the euro, saying that was 7.2 per cent instead of an earlier estimate of 7.1 per cent, a record low that the euro area hit in December 2007.
Europe has some of the longest jobless queues in the world, far longer than the United States or Japan, but a recent economic boom had helped put more people to work.
Across the EU's 27 nations, unemployment stood at 6.8 per cent, up from 6.7 per cent in April. Some 16 million people were out of work in the European Union as a whole, 11 million of them in euro countries.
Denmark has the region's lowest jobless rate at 2.7 per cent, closely followed by the Netherlands at 2.9 per cent.
Slovakia reports the most unemployed at 10.5 per cent with Spain, suffering as its once-booming economy stalls, at 9.9 per cent.
Both Germany and France , the euro area's biggest economies, had unemployment rates of 7.4 per cent in May, according to Eurostat.
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