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Friday 21 July 2017

Eurozone unemployment rate remains at eight-year low

There are indications that the eurozone economy is picking up
There are indications that the eurozone economy is picking up

Unemployment across the 19-country eurozone remained at an eight-year low in May, figures show.

Eurostat said the unemployment rate was unchanged at 9.3%. That represents the lowest level since March 2009, when unemployment was rising markedly following the global financial crisis.

Over the month, the statistics agency said the number of people out of work fell by a modest 5,000 to 15.03 million.

Hopes are high that the falling trend across the eurozone will accelerate in the months to come as the region's economic growth appears to have picked up speed.

The figures mask huge disparities across the region, but even in those countries where unemployment has been highest, notably Greece and Spain, there is an improving trend.

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