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Eurozone Jobless Rate at 18-Year Low
Unemployment in the eurozone declined to 9.1% in June, its lowest sine February 2009, according to Eurostat.
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Unemployment in the eurozone declined to 9.1% in June, its lowest sine February 2009, according to Eurostat.
The EU statistics agency says the lowest jobless rates last month were in Germany (3.8%) and Malta (4.1%). The highest rate was in Greece (21.7% in April, the most recent figure available).
Separately, Eurostat estimates overall inflation for the region was unchanged in July at 1.3%. But core inflation, which ignores volatile energy and food prices, climbed to 1.2% from 1.1% in June.
BBC News notes that both rates are well below the European Central Bank’s target of nearly 2%. The bank has said it won’t reduce its €2.3 trillion ($27 trillion) quantitative easing program to avoid harmful economic deflation until inflation increases.
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