Euro Zone Unemployment Rate Holds Steady at 7.2% in May

European Economy | Written by CEP News | Jul 01 08 09:34 GMT |
(CEP News) Frankfurt - Despite expectations for a decline the euro zone unemployment, the rate held firm at 7.2% in May, Eurostat reported on Tuesday. Economists had forecast that the unemployment rate would to fall to 7.1%. Meanwhile, April's unemployment figure was revised up to 7.2% from 7.1%.

According to Eurostat, the number of people unemployed who consider the euro zone to be their primary place of residence increased by 42,000 in May.

Looking at the individual euro zone states for which data is available, the lowest unemployment rate was observed in Denmark, which posted a rate of 2.7%, and the Netherlands, which came in at 2.9%. Conversely, Slovakia had the highest rate of unemployment in May at 10.5%, followed by Spain, where 9.9% of the labour force is actively looking for work.

By Todd Wailoo, twailoo@economcnews.caThis email address is being protected from spam bots, you need Javascript enabled to view it , edited by Stephen Huebl, shuebl@economicnews.caThis email address is being protected from spam bots, you need Javascript enabled to view it

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