Little Sign of New Jobs Created in Europe

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.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Bank DnB NORD increases its holdings in Lithuania

Bank DnB NORD A/S increasing its holdings in its Lithuanian subsidiary to 99.84 percent through acquisition of shares from minority shareholders. more »

AB Bank SNORAS will grant LTL 35 million for financing small and medium businesses

AB Bank SNORAS will grant LTL 35 million for financing the small and medium businesses on the exclusive conditions. more »

Obama rejects GM, Chrysler plans

Rejecting survival plans from both General Motors and Chrysler, President Barack Obama warned the ailing US automakers they could be forced into bankruptcy if they don't find a way to slash their debt. more »

Beer still recession proof?

Prevailing wisdom says when the going gets tough the weary go drinking. The demand for beer exceeds the demand for all other alcoholic beverages in USA. more »

Watchmakers want better times

Things have been moving slowly for Swiss watchmakers in recent months. The global economic downturn has hit the country's third most important industry hard. more »

GM CEO resigns

The move came a day before the U.S. government was due to outline new steps to help GM and Chrysler as part of the federal bailout. more »

Creativity key to a healthy economy

With the European year of creativity and innovation in full swing, leading figures warn against cutting back on research and development in times of crisis. more »

Markets rebound on better data

Wall Street has been looking for signs of a bullish comeback, and today's surprise news on the economic front revived a buying spree... started by Monday's 7% rally. more »

Five countries exceeding EU deficit limits

With the economic crisis eating away at public finances, budget deficits in five countries are expected to exceed the 3% of gross domestic product allowed by the EU. more »

China calls for new global currency

China is calling for a new global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week's London summit on the financial crisis. more »