Eurozone jobless rate hits 11-year low

The unemployment rate in the eurozone dropped to 7.5 per cent in May, its lowest level since July 2008, data showed yesterday, despite mounting concerns that global trade wars could cool already tepid economic growth.

The figure is better than the consensus forecast of analysts calculated by data firm Factset, which was for the jobless rate to stay steady at 7.6 percent.

Meanwhile the unemployment rate in the 28-member EU, also dipped a tenth of a percentage point to 6.3 per cent, the lowest level since data series began in 2000.

In the 19 countries that share the euro, the jobless rate has now returned to the level when the global economic crisis unfolded in 2007-2008.

 

Eurozone jobless rate hits 11-year low

The unemployment rate in the eurozone dropped to 7.5 per cent in May, its lowest level since July 2008, data showed yesterday, despite mounting concerns that global trade wars could cool already tepid economic growth. The figure is better than the consensus forecast of analysts calculated by data firm Factset, which was for the jobless rate to stay steady at 7.6 percent. Meanwhile the unemployment rate in the 28-member EU, also dipped a tenth of a percentage point to 6.3 per cent, the lowest level since data series began in 2000. In the 19 countries that share the euro, the jobless rate has now returned to the level when the global economic crisis unfolded in 2007-2008.