The unemployment rate held steady at 10% in euro area

The unemployment rate has not budged one iota since March in the eurozone. According to the latest issue of Eurostat, it was still maintained at 10% in June It was 9.5% in June 2009. He also remained unchanged throughout the European Union (EU) to 9.6% in June But these figures mask an increase of 6,000 jobseekers in the eurozone, to 15.77 million and a decrease of 32,000 in the EU.

In France, the unemployment rate has however increased to 10% in June, against 9.9% in May, according to Eurostat. "The previous rise had occurred in January, reflecting a slowdown in the growth of unemployment," said Dominique Barbet, economist at BNP Paribas.

However, "the unemployment rate using the narrower definition of unemployment rate (that of the International Labour Office).Using the broader definition, making it better reflect the number of employable people, unemployment lies somewhere around 15%, "added the economist. Reasoning that applies to all figures released by Eurostat on Friday.

Decline in Germany, rising in Spain

On the whole area, lower unemployment in Germany, 7.7% in May to 7.6% in June, helped to reverse the effect of rising Spanish unemployment, which rose from 19 , 8% to 20%. Throughout the second quarter, Madrid even recorded an unemployment rate rose to 20.09% against 20.05% three months earlier.

Large disparities between member countries so. Austria and the Netherlands have the lowest unemployment rate in the area, respectively 3.9% and 4.4%. At the other extreme, the Spain and Latvia suffer unemployment rates above 20%.

In one year, only four states had decreases in unemployment: Austria (from 5.1% to 3.9%), Malta (7.2% to 6.5%) and Germany (7 , 7% to 7%).

Note, the United States, the unemployment rate rose to 9.5% in June, and Japan at 5.3%.

See also:

"Growth looks strong in Europe

July 31st, 2010 in economy, international, online, technology, top news | tags: , , , ,