Eurozone Unemployment Remains at 10%

For the fifth straight month, unemployment in the eurozone remains mired at a record high 10 percent. Nearly 16 million people in the region are out of work but the pain is not spread evenly amongst the eurozone member countries.

Austria at 3.8 percent, and the Netherlands at 4.4 percent, recorded the lowest unemployment rates, while the German unemployment rate fell from 7.6% to 6.9%. Contrast this to Spain which has the highest rate of unemployment at 20.3%.

“We have the periphery countries, where the labour market is showing no improvement, and we have the core eurozone, where the labour market is actually pretty good and continues to show good news,” said Carsten Brzeski, an economist at ING.

Source: BBC News

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