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Eurozone unemployment rate sticks at 11%:

This report is the cumulative percentage of unemployed individuals across the euro area. The figure is calculated by dividing the number of unemployed in the labor force by the total labor force, yielding a percentage measure. Individuals are defined as unemployed if they are 15 years or older and without a job, having actively sought employment in the past 4 weeks and are willing and able to work in the next 2 weeks.

A dropping unemployment rate means more people have jobs than before, which generally means they have more money to spend. Higher levels of spending helps instigate economic growth. Low levels of unemployment can also lead to wage inflation, however, which brings overall inflationary concerns. As this figure is released earlier than GDP figures, it can be useful for gauging the overall economic health of the eurozone, although its impact is somewhat reduced by individual member states releasing unemployment data in advance of this combined rate.

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