Euro zone unemployment rate remains unchanged at 10%

| February 1, 2011

The European Uniona��s statistics agency has today announced the unemployment rate in the 17-member euro zone remained stuck at 10% in December.

According to Eurostat, 15.7 million people were unemployed in the euro zone during the month.

Unemployment remains high in Spain – at above the 20% mark – but continues to fall in Germany, Finland and the Netherlands.

Figures today revealed Germany saw a fall in the number of people out of work in January to 3.135 million.

Germanya��s Federal Labour Office said unemployment fell to an 18-year low in January taking the unemployment rate to 7.4% from 7.5% in December.

Germanya��s job market has performed much better than in many other countries and many believe it is the result of the a�?Kurzarbeita�? scheme, introduced by the German Government, designed to prevent mass redundancies.

In Italy, meanwhile, the jobless rate among 15-24 year olds reached 29% – the highest since 2004.

Meanwhile, in the 27-nation European Union, the unemployment rate remains at 9.6% with a total of around 23 million people unemployed.

In comparison, unemployment in the US stands at 9.4%, Japana��s unemployment rate is 4.9%, while in the UK it is 7.9%.

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