Europe’s Unemployment Hits 3 Year Low

Unemployment across the euro zone fell in July to its lowest level in more than 3 years.

The unemployment rate across the 19 euro zone member states averaged 10.9 percent in July, the lowest level since February 2012, data from Eurostat, the European Union’s statistical body, showed on Tuesday.

This was a noteworthy drop from June, when unemployment was recorded at 11.1 percent.

Stubbornly high youth unemployment has blighted the euro zone for years, but took a tumble in July.

The number of people under 25 registered unemployed fell by 336,000 from July 2014 to 3.093 million.

Across age categories, jobless rates were highest in Greece, with one-quarter of all people unemployed, according to the latest available data. Spain followed close behind, with unemployment at 22.2 percent

via CNBC

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