Economy

Eurozone unemployment rate steady at 11.5% in July

DPA Luxembourg | Updated on August 29, 2014 Published on August 29, 2014

Unemployment rate in the eurozone held steady at 11.5 per cent in July, data released on Friday showed, despite repeated calls for jobless ranks to be whittled down.

The 18-country currency area has pulled out of recession, but has struggled to make a significant dent in unemployment since it reached a record 12 per cent last year.

July’s seasonally adjusted rate was in line with analysts’ expectations. It is the lowest level seen since September 2012, according to the European Union’s statistics agency, Eurostat.

A total of 18.4 million people were out of work in the eurozone, with Greece and Spain posting the highest unemployment rates at around 25 per cent. The lowest rates continued to be recorded in Germany and Austria, at just under 5 per cent.

In the wider 28-member EU, overall unemployment also stagnated at 10.2 per cent in July, while the youth unemployment rate was down to 21.7 per cent.

Published on August 29, 2014
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