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Eurozone unemployment falls to near eight-year low

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Staff Writer | Tuesday April 4, 2017 5:13AM ET
Eurozone unemployment
Europe   The unemployment rate

Unemployment in the eurozone fell to a near eight-year low in February, adding to signs that growth in the 19-member economy is gaining momentum.


The unemployment rate in the currency bloc slipped from 9.6% in January to 9.5% in February after jobless queues across the region shrank by 140,000, according to figures released Monday by the EU's statistics office Eurostat.

The unemployment rate in the eurozone now stands at its lowest level since May 2009.

However, a total 15.439 million people were without work in February, Eurostat said.

At 3.9%, Germany recorded the lowest jobless rate in the eurozone.

Greece and Spain, however, remained in the unenviable position of posting the currency bloc's highest unemployment rate.

The latest data showed the jobless rate in Greece standing at 23.1% in December 2016 and 18% in Spain in February.

 

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