Although the eurozone has been in recession since the end of 2011, the number of jobless fell for the first time in more than two years in June. The unemployment rate stayed at a record 12.1%, while the eurozone jobless total fell by 24,000 to 19.26 million. Has the eurozone stabilised? Well, the jobs figures add to the evidence suggesting that maybe the situation has stopped getting worse. But one must consider the fact that when someone stops trying to look for a job, they are no longer counted as unemployed but as “inactive”. With the unemployment rate stabilising for the first time in months - but at a euro-era record - the figures for youth unemployment are still dismal. When it comes down to it, figures may not actually reflect reality, but even if they do, it may still just demonstrate a short-term relief.
Open an Account
