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October 3, 2010    

euro zone unemployment rate steady at 10.1%

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by Kay Murchie
euro zone unemployment rate steady at 10.1%

The European Union’s statistics agency has announced unemployment in the 16-member euro zone remained steady at 10.1% in August.

According to Eurostat, 15.87 million people were unemployed in the euro zone during the month.

Spain continues to have one of the highest unemployment rates within the 16-bloc nation at 20.5%, while Germany’s rate continues to fall, from 6.9% to 6.8% in July.

Germany’s job market is much stronger than in many other countries and many believe it is the result of the “Kurzarbeit” scheme, introduced by the German Government, designed to prevent mass redundancies.

Meanwhile, in the 27-nation European Union, the unemployment rate stands at 9.6% with a total of 23.1 million people unemployed.

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