The euro zone continues to experience a jobless recovery, with no indication that new jobs are being created after more than a year of generally sluggish economic growth
Published:
4 September 2004 y., Saturday
According to figures published Wednesday by the European Union statistics agency, the unemployment rate in the dozen countries using the euro was unchanged at 9 percent in July.
The figures were in line with expectations, and remain far above other parts of the industrialized world. The jobless rate stood at 5.6 percent in the United States and 4.9 percent in Japan, according to Eurostat.
Unlike other developed economies, the euro zone has yet to experience a burst of job creation in response to stronger global economic growth, and there is little sign of dramatic improvement this year. The high unemployment rate partly explains the weak state of consumer confidence in the euro zone and the low level of spending growth.
According to a survey of euro-zone purchasing managers also published Wednesday, manufacturers cut payrolls for the 39th straight month in August, and at a faster rate than in July.
Unemployment rates varied widely across the currency area, with Austria recording a jobless rate of 4.2 percent, while Spain recorded a jobless rate of 11 percent.
In the European Union as a whole — which includes Britain, Sweden, Denmark and the 10 mostly central and eastern European countries that joined the area May 1 — the jobless rate fell to 9 percent from 9.1 percent in June.
Šaltinis:
story.news.yahoo.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Reform of the banking system was one of the key themes at this year's World Economic Forum in Davos, with bankers coming in for a lot of criticism.
more »
Small firms have been hard hit by the economic crisis, and so must be given incentives and support, including easier access to credit, help with innovation, tax breaks and less red tape, MEPs on Parliament's Special Committee on the Financial, Economic and Social Crisis (CRIS), and experts agreed at a workshop on Monday.
more »
The elections and investiture of Porfirio Lobo as President of Honduras have cleared the way for the EU to restore normal relations with the Central American country and negotiations for signing a bi-regional Association Agreement may soon resume.
more »
The European Commission has approved applications from Lithuania for assistance under the European Globalisation Adjustment Fund (EGF).
more »
The European Commission has decided to refer Italy to the European Court of Justice (ECJ) on the basis of Article 108(2) of the Treaty on the Functioning of the European Union (TFEU) for failing to comply with a Commission decision of July 2008.
more »
The EBRD is helping to strengthen the financial sector in Bosnia-Herzegovina (BiH) with a €50 million credit line to the Deposit Insurance Agency of Bosnia and Herzegovina (DIA), the Bank’s first investment in a deposit insurance entity.
more »
In its first investment in the natural resources sector in Bosnia and Herzegovina, the EBRD is providing a €17 million sovereign loan to finance the gasification of the Central Bosnia Canton.
more »
The EBRD is increasing the availability of financing to private businesses in Armenia with a $5 million credit line and a $3 million trade finance facility to ArmSwissBank for small and medium companies (SMEs).
more »
On January 27 the European Commission assessed the action taken by Lithuania, Malta, Latvia and Hungary in response to recommendations proposed by the Commission and endorsed by the Council in July 2009 in respect to the correction of their respective budget deficits.
more »
EUROSTAT announced that Lithuania’s GDP rose by 6.1 % in the 3rd quarter of 2009 versus the previous quarter.
more »