Eurozone unemployment edges down to 10.1 percent in May

This has been the lowest rate recorded in the single currency area since July 2011.

July 2, 2016

Compared with a year ago, the unemployment rate fell in 26 EU member states.

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]T[/dropcap]he seasonally-adjusted unemployment rate in the 19-country eurozone was 10.1 percent in May, slightly down from 10.2 percent in the previous month and from 11.0 percent in May 2015, Eurostat, the statistical agency of the European Union (EU) , announced Friday.

This has been the lowest rate recorded in the single currency area since July 2011.

Meanwhile, the unemployment rate in the wider 28-country EU was 8.6 percent in May, down from 8.7 percent in April and from 9.6 percent in May 2015, Eurostat said.

Among the EU member states, the lowest rates of employment were recorded in the Czech Republic (4.0 percent), Malta (4.1 percent) and Germany (4.2 percent), while the highest rates were observed in Greece (24.1 percent) and Spain (19.8 percent), it said.

Compared with a year ago, the unemployment rate fell in 26 EU member states.

The numbers remained stable in Latvia and increased in Austria, Eurostat added.

Notes: Xinhua- (This story has not been edited by PGurus.com and is generated from a syndicated feed we subscribe to)