Eurozone jobs squeeze worsens

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Eurozone jobs squeeze worsens

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The number of people with jobs in the eurozone continues to fall.

Employment was down by 0.2 percent in the third quarter from the second according to the latest figures from the EU’s statistics agency.

Compared to the same period last year, there was a 0.7 percent decline.

There are now 146 million workers in the eurozone, the smallest number since early 2006. Spain’s figures were the worst. Employment went up only in Germany and Austria

Meanwhile, the cost of living is being held down by Europeans’ reluctance to spend on travel and eating out, along with lower energy prices.

In November inflation was up 2.2 percent from a year earlier. The previous month it was 2.5 percent.

If things keep going like that the inflation rate could reach the European Central Bank’s target of just below 2.0 percent, opening the way for interest rate cuts.