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Eurozone surprises with fall in unemployment

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By Euronews
Eurozone surprises with fall in unemployment

<p>A sharp decline in Italy has helped the Eurozone’s <a href="http://ec.europa.eu/eurostat/web/products-press-releases/-/3-01092015-AP">unemployment figures</a> fall to their lowest level in more than three years.</p> <p>The unexpected fall surprised analysts. It now stands at 10.9%, and for the entire 28-member EU unemployment is at 9.5%, the lowest since June 2011.</p> <p>Eurozone unemployment had been stubbornly stuck at over 11% for the last three months, but the picture remains uneven. Although youth unemployment at last showed signs of dropping after years of posting above-average figures, in some countries the young unemployed see little change.</p> <p>For example, Europe’s unemployment leaders, Germany at 4.7% and Malta and the Czech Republic, with 5.1%, have found jobs for nearly all their school leavers, but in Greece and Spain, with 25% and 22% unemployment respectively, the drain of young workers abroad continues as their economies offer nothing for them.</p> <p>Within the Eurozone only three members saw their unemployment rise in July; Finland, Lithuania, and France.</p>