A sharp decline in Italy has helped the Eurozone’s unemployment figures fall to their lowest level in more than three years. The unexpected fall
ADVERTISEMENTA sharp decline in Italy has helped the Eurozone’s unemployment figures fall to their lowest level in more than three years.
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.
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.
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.
Within the Eurozone only three members saw their unemployment rise in July; Finland, Lithuania, and France.
