Rather difficult to believe that a meaningful recovery in the Eurozone is possible until the governing council can get a handle on unemployment. As of August, a total of 15.3 million people remain unemployed.
The unemployment rate across the 16 countries that use the euro has risen again as the effects of the recession continue to be felt.
August’s seasonally adjusted rate rose to 9.6%, compared with 9.5% in the previous month, official figures show.
The number of people without a job in the eurozone is now 15.2 million.
Despite the fact that many eurozone economies are recovering from recession, economists expect unemployment rates to continue rising.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.