Eurozone: Unemployment rate stable in July
August 31, 2017
Conditions in the labor market of the common currency bloc were broadly stable in July, according to data by Eurostat. The number of unemployed rose by 73,000. The unemployment rate was stable At June’s 9.1% in July—a multi-year low.
Looking at the countries in the region with available data, a number of the economies saw improvements or steady conditions in their labor markets. Germany’s unemployment rate inched down to 3.7%, while Spain’s was stable at 17.1%. However, both France (9.8%) and Italy (11.3%) saw higher unemployment rates.
Notable divergences persist in the labor market among core Eurozone countries and those on the periphery. Greece is the economy in the Eurozone with by far the highest unemployment rate (21.7%, data refer to May), followed by Spain and Italy. At the other end of the spectrum, Germany has the lowest unemployment rate, followed by Malta and the Netherlands.