Eurozone Unemployment Falls For First Time in Two Years

The number of jobless in the eurozone fell for the first time in more than two years in June, but the unemployment rate stayed at a record 12.1%.

The jobless total fell by 24,000 to 19.26 million, the first decrease in the jobless total since April 2011.

The figures add to recent hopes that the economic situation in the eurozone may be stabilising.

The jobless rate was 26.3% in Spain, and 26.9% in Greece, but only 4.6% in Austria and in Germany it was 5.4%.

Last week it was revealed that private sector industry in the eurozone returned to growth in July. The Markit eurozone Purchasing Managers’ Index, which measures business output, was 50.4 in July. A figure above 50 indicates expansion.

July’s figure was up from 48.7 in June, and marks an 18-month high. The eurozone has been in recession since the end of 2011.

via BBC

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