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Wednesday, April 9, 2014

Euro Area unemployment stable at 11.9%

by  Andy Carling

The Organisation for Economic Co-operation and Development said that unemployment rose by 0.1% in February after three consecutive months of decline, but in the Euro Area, the rate remained stable, for the fifth month, at 11.9%.

In the European Union, the rate fell by 0.1% to 10.6%, the lowest since 2012.

But that figure doesn’t tell the full story. In the north, Netherlands had a 0.2% increase to 7.3%, France and Italy went up 0.1% to 10.4% and 13%. Austria fell by 0.1% to 4.8% and Germany remained stable at 5.1%.

In the south of the union, Spain had a 0.2% drop to 25.6%, the latest figure for Greece is 27.5%.

The overall figure for youth unemployment, 15.5%, is 0.9% lower than a year ago.

However, in Greece, 58.3% of young people are jobless, Spain 53.6%, Italy, 42.3%, Portugal 35% and the Slovak Republic have 32.3% of their youth jobless.

Around the globe, unemployment rose by 0.1% in the US to 6.7%, in Korea by 0.7% to 3.7%. Canada remained stable at 7% and Japan and Mexico saw a 0.1% drop to 3.6% and 4.7%.


READ THE ORIGINAL POST AT www.neurope.eu