Eurozone unemployment rate rises

The number of jobless people in countries that share the euro reaches 12-year high.

    The euro has sunk to a four-year low amid concerns over deficit problems in the region [AFP]

    Signs of stability

    However a drop in the number of jobless people in Germany could signal that the labour market may be stabilising.

    "Despite the uptick in the euro area unemployment rate, we view these latest data as being relatively positive," James Ashley, an economist at Barclays Capital, told the Reuters news agency.
     
    "The level of unemployment increased by a mere 25,000 month-on-month in April as increases in France, Italy, and Spain were largely counterbalanced by a decline in Germany."

    "Although there is widespread divergence in labour market dynamics within the euro area, we continue to expect the overall figures to stabilise over the next few months," he said.

    The latest German data showed it also fell the 11th month running in May, by a seasonally adjusted 45,000 month-on-month, far more than expected as labour reforms paid dividends and a weaker euro boosted exports.

    But some analysts have said a turnaround in the labour market was still some way off, forecasting unemployment would remain a drag on the economy.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Why some African Americans are moving to Africa

    Escaping systemic racism: Why I quit New York for Accra

    African-Americans are returning to the lands of their ancestors as life becomes precarious and dangerous in the USA.

    Why Jerusalem is not the capital of Israel

    Why Jerusalem is not the capital of Israel

    No country in the world recognises Jerusalem as Israel's capital.

    US: Muslims to become second-largest religious group

    US: Muslims to become second-largest religious group

    By 2050 the number of Muslims is projected to reach 8.1 million, or 2.1 percent, of the total US population.