Unemployment rate in EU remains at 8%
According to data published by EU statistics institution Eurostat, the average unemployment rate in 15 member states of European Union (EU) remained at 8% as of February 2004. This average was also 8% in February 2003. Moreover, the average unemployment rate in Euro zone was stable at 8.8% in February 2004. The average a year earlier was 8.7%. In February 2004, lowest unemployment rates were recorded in Luxembourg with 4%, Austria with 4.4% and Ireland with 4.5% while the highest rate was registered in Spain with 11.2%. Eurostat estimates that, in February 2004, 12.4 million were unemployed in the Euro zone and 14.2 million people in the EU. According to the information provided by Eurostat, the unemployment rate for the same period is recorded as 5.6% in US and 5% in Japan.