The European Union’s jobless rate has dipped to 8.7%, as the slow recovery continues * Latest: EU unemployment rate now lowest since 2009 * But eurozone is still in deflation * Chinese shares jump, after unexplained plunge 11.10am BST YOUNG PEOPLE ARE STILL BEARING THE BRUNT OF EUROPE’S UNEMPLOYMENT PROBLEM. The youth jobless rate in the EU has dropped to 18.8%, from 20.7% in April 2015. That still leaves 4.2 million under-25s out of work across the region. #Italy and the rest: Youth unemployment rates drop across the #Eurozone w/ exception of #Italy. Rate rose to 36.9%. pic.twitter.com/0Ysm106hCc 10.58am BST MARTIN JANICKO, ECONOMIST AT MOODY’S ANALYTICS, ALSO BELIEVES EUROPE’S LABOUR MARKET IS IMPROVING... “The euro zone’s unemployment rate was 10.2% in April, unchanged from the previous month but down from 11% a year earlier.” “Declines in the jobless rate were recorded in most euro zone countries. Particularly encouraging are drops in joblessness in Greece, Ireland, and Spain. Periphery countries have had the largest drops over the past few months, reflecting their rebound, while the European core broadly held ground. Nevertheless, headline unemployment and youth unemployment rates are still elevated in the euro zone, with only Germany reporting a youth unemployment rate below 10%.” Continue reading...
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