Eurostat reported that the unemployment rate remained at 11.1% in June, unchanged for the third consecutive month. Moreover, annual inflation in the eurozone was 0.2% in July.
(AP) .- Unemployment and inflation remained stable in the euro area of 19 countries in the early summer, when the Greek crisis was at its peak and increased concerns about the prospects for monetary union.
The statistical agency European Union, Eurostat, reported today that the unemployment rate remained at 11.1% in June, unchanged for the third consecutive month, after falling in the previous months.
” This is the lowest rate in the euro area since March 2012, “said EU spokeswoman Natasha Bertaud. “We have now some encouraging signs. We have to continue along this path, “he said.
Of the countries using the euro, Greece has the highest unemployment rate with 25.6%. At the other end of the scale is Germany, with just 4.7% of its workforce unemployed.
The European Commission, the executive arm of the EU, has pressed hard to create measures to encourage employment and Starting this fall, the European Investment Bank will start selecting projects to invest in a program of 315,000 million that aims to create 1.3 million jobs.
Greece also has the highest youth unemployment rate in the euro with 53.2% in April, the latest month for which there are records. In contrast, the average unemployment rate among the under-25s in the euro area is 22.5%.
On the other hand, annual inflation in the eurozone was 0.2% in July, the same figure recorded a month earlier, but still below the target of European Central Bank 2%.
Economists have warned of the risk of a prolonged period of low or negative rates of inflation as it may discourage investment and spending. ECB this year launched a massive program of monetary stimulus for inflation to rebound, but is expected to take months for the rate increase significantly, especially after a fall in oil prices reduced pressure on consumer prices.
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