Unemployment rate in Eurozone falls to 7.9pc
Afp, Brussels
The unemployment rate in eurozone eased in May to nearly a five-year low point of 7.9 percent of the workforce from 8.0 percent in April, according to data published Monday by the EU's Eurostat data agency. The figures, which had seasonal variations smoothed out, was slightly lower than private economists' expectations for the rate to remain stable at 8.0 percent. Unemployment in the 12 countries sharing the single European currency has not been as low since October 2001, a Eurostat official said. Since peaking at 8.9 percent during an extended period ending in September 2004, unemployment in the eurozone has steadily slipped lower as the bloc's economy slowly gathers pace. In May 2005, the rate stood at 8.7 percent of the workforce.
|
|
