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

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Interactive: Coding like a girl

    Interactive: Coding like a girl

    What obstacles do young women in technology have to overcome to achieve their dreams? Play this retro game to find out.

    The War in October: What Happened in 1973?

    The War in October: What Happened in 1973?

    Al Jazeera examines three weeks of war from which both Arabs and Israelis claimed to emerge victorious.