Unemployment Rate

July 2nd, 2010 • Business

Unemployment Rate – Unemployment in the 16-nation euro zone held stable at 10 percent in May, a sign that a long and steady deterioration in the labor market may have stopped. But the outlook remains pessimistic as government austerity programs start to bite.

The European Union’s statistical office also said producer prices remained subdued in May, in line with expectations, pointing to low underlying inflation pressure.

Eurostat said 15.789 million people were jobless in the euro zone in May, 35,000 more than in April. For that month, the figure was revised to 10 percent from 10.1 percent.

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Tags: european union, pessimistic, steady

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