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
Between 2000 and 2008 EU27 trade in goods with China more than tripled in value, with EU27 exports to China rising to 78 billion euro in 2008 compared with 26 bn in 2000, and imports rising to 248 bn from 75 bn.
more »
The first estimate for the euro area (EA16) trade balance with the rest of the world in March 2009 gave a 0.4 bn euro surplus, compared with -2.3 bn in March 2008.
more »
On May 18 this year, AB Bank SNORAS begins to distribute two emissions of one-year fixed interest bonds.
more »
Taking into account changes on international and domestic money markets AB DnB NORD Bankas, a member of international financial group, has changed time deposit rates for individual customers.
more »
The 25-year Sri Lankan civil war looks to be in its final throes.
more »
The sheer scale and nature of taxpayers' cash claimed as allowances by Britain's lawmakers has stunned the nation.
more »
The European Commission has decided to send a formal request to Lithuania regarding the award of a works contract by Lithuania Railways for the modernisation of the railway radio communication system through the introduction of a GSM-R system.
more »
The speed and depth of the financial crisis has been brutal and over the last year MEPs have been hard at work on a two-fold approach to the crisis.
more »
The Group commits to reducing its CO2 emissions by 30% by 2020 supporting the “20-20-20” goal set by the EU.
more »
This weekend, in the second round of Le Mans Series championship on SPA track, in Belgium, SNORAS Spyker Squadron team that participated there took the fifth high position.
more »