Posted on 07/31/2013 12:49:13 PM PDT by SeekAndFind
Unemployment in the eurozone fell for the first time in over two years, according to new statistics.
The new figures show that24,000 fewer Europeans were considered unemployed since May.
The jobless rate in the 17-member eurozone is still high at 12.1 percent and a decrease in spending by shoppers in France Germany, and Spain will mar the promising new data.
Domestic demand across Europe remains weak due to the downturn and austerity measures being taken by many nations.
In the 27-member European Union, the unemployment rate is 10.9 percent, down from 11 percent in May.
The jobless rate of young people, particularly in Spain and Greece, is worrying, with nearly 60 percent of people between 16 and 25 out of work.
Eurozone youth unemployment is at nearly 24 percent, slightly increasing over the summer months.
The low 1.6 percent annual inflation rate has remained stable.
Europe is trying to overcome three years of economic crisis that has seen millions of jobs lost and unrest across the continent.
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