Europe’s recovery strengthens, unemployment at eight year low
Brussels, Belgium - Europe’s economic recovery is strengthening with unemployment in the eurozone dropping in June to its lowest since February 2009, according to official figures released on Monday.
The jobless rate of 9.1 per cent was better than predicted by analysts and will boost confidence that the 19-nation single currency area’s pick-up is gathering steam after the financial crisis.
Eurozone inflation meanwhile held at 1.3 per cent in July.
“While June’s unemployment data paint a positive picture of the eurozone labour market, July’s [inflation] release confirms that this strength has yet to generate inflationary pressure,” said Jennifer McKeown of Capital Economics.