European Nations Enjoying Sturdy Recovery
Source: Agencies |
April 2, 2011, Saturday
|
Print Edition
Print Edition
UNEMPLOYMENT across the 17 euro countries fell below 10 percent in February for the first time in over a year, official figures showed yesterday, in another sign the region is enjoying a fairly sturdy economic recovery despite debt troubles in a number of countries.
Eurostat, the EU's statistics office, said unemployment fell by 77,000 in February, helping take the rate down to 9.9 percent - the lowest since December 2009 - from January's 10 percent.
The January rate had previously been estimated at 9.9 percent but was revised up in yesterday's report.
Lower unemployment is good for the wider economy as it could help ratchet up Europe's perennially weak consumer spending levels.
Analysts said that's important if the recovery in the eurozone is to step up a gear.
So far much of the recovery has been based on booming industrial conditions in Germany, Europe's powerhouse.
That's evident in the unemployment rate in Germany, where the unemployment rate dropped to 6.3 percent in February from 6.5 percent in January.
Eurostat, the EU's statistics office, said unemployment fell by 77,000 in February, helping take the rate down to 9.9 percent - the lowest since December 2009 - from January's 10 percent.
The January rate had previously been estimated at 9.9 percent but was revised up in yesterday's report.
Lower unemployment is good for the wider economy as it could help ratchet up Europe's perennially weak consumer spending levels.
Analysts said that's important if the recovery in the eurozone is to step up a gear.
So far much of the recovery has been based on booming industrial conditions in Germany, Europe's powerhouse.
That's evident in the unemployment rate in Germany, where the unemployment rate dropped to 6.3 percent in February from 6.5 percent in January.
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