Free Republic

Eurozone unemployment continued at record highs in June and while a first fall in the jobless numbers for more than two years offers some hope, officials and analysts were cautious on the outlook. “The figures remain horrendously high,” a European Commission official said, stressing the need to press ahead with economic reforms needed to boost employment. “Let’s be frank. There is no silver lining here … the figures are pretty much the same as the previous month.” The 17-nation eurozone jobless rate came in at 12.1 percent, unchanged from May, the Eurostat data agency said on Wednesday. …

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...