Euro zone unemployment rate remains stable in July

Euro zone unemployment rate remains stable in July

EU statistics institution Eurostat reports that the average unemployment rate in 25 member states of European Union (EU) was recorded as 9% in July. Moreover, the average unemployment rate in Euro zone was stable at 9% in July, compared to June. This rate was 8.9% in July 2003. In the aforementioned period, lowest unemployment rates were recorded in Austria with 4.2%, Luxembourg with 4.3%, Ireland and Cyprus with 4.5% for each and the UK with 4.7% while the highest rates were registered in Poland with 18.8%, Slovakia with 15.9%, Lithuania with 11.3% and Spain with 11%. Eleven member states recorded an increase in their unemployment rate, eleven a decrease and three remained the same. According to forecast of Eurostat, in July, 12.7 million people were unemployed in Euro zone and 19.3 million in the EU. Eurostat also emphasized that the unemployment rate for the same period is recorded as 5.6% in US and 4.9% in Japan.