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Fall in Eurozone unemployment gives rise to confidence

September 5, 2013  /   No Comments

Jo Faragher

The Eurozone’s unemployment rate stayed at its record 12.1% during July, according to official figures.

There was a slight fall in the total number of people out of work, by 15,000 to 19.23 million. This is the second month unemployment figures have fallen – after a drop of 35,000 in June.

This comes amid news that the Eurozone has experienced overall growth of 0.3%, emerging slowly from its 18-month recession.

In the wider European Union, the unemployment rate also remained steady at 11%. 

Mike Booker, director of The Network, part of job board totaljobs.com, said the modest fall was “another reason to believe confidence is returning to the Eurozone”.

He said: “There is still a massive divide in unemployment rates between northern European countries like Germany and southern Europe, although nations such as Portugal are investing heavily in digital infrastructure which may contribute to economic recovery towards the end of this year and into next. Looking ahead, falling employment is a trend that is likely to continue as businesses step up their recruitment plans after the summer break.”

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