Europe's unemployment lowest in more than a decade

FRANKFURT, Germany — The unemployment rate in the 19 European Union countries that use the euro fell to its lowest in more than a decade in May as domestic demand and low interest rates help keep the recovery going.

Official figures Monday showed the jobless rate declined to 7.5 percent from 7.6 percent in April, well below the peak of 12.1 percent in 2013 in the wake of a debt crisis that threatened to break up the euro.

Export-dependent manufacturing has suffered due to the trade conflict between the U.S. and China. But domestic demand has held up, and the economy is further supported by record low interest rates set by the European Central Bank. Weakening indicators and slack inflation have led the ECB to signal more stimulus may be coming.

People also read these

Asian stocks mostly rise on hopes for higher US rates

Aug 30, 2016

Asian shares were mostly higher Tuesday as speculation continued about a U.S. Federal Reserve interest rate hike later this year

Asian stocks mixed ahead of US jobs data

Aug 31, 2016

Asian stocks are mixed Wednesday in listless trading ahead of jobs data later this week and continued anticipation of higher interest rates in the U.S. Japan's benchmark Nikkei 225 gained 0.8 percent to 16,857.07 in morning trading

US bank earnings in Q2 climbed 1.4 percent to $43.6B

Aug 30, 2016

U.S. banks' earnings in the April-June period rose 1.4 percent from a year earlier as growth in lending fueled interest income

Subscribe to our newsletter!

Your Name

Your Email Address