Euro-Area Joblessness Declines to Lowest Level Since Early 2012
- Unemployment rate in 19-nation region dropped to 10.9% in July
- PMI data signal recovery driven by Germany as France struggles
Stock Selloff in Europe Shows No Sign of Slowing
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Unemployment in the euro area unexpectedly declined to its lowest level in more than 3 years, signaling the region’s recovery is gaining pace even as dark clouds from China draw on the horizon.
The seasonally adjusted unemployment rate for the 19-nation region dropped to 10.9 percent in July from 11.1 percent in June, the European Union’s statistics office in Luxembourg said on Tuesday. That’s the lowest since February 2012 and below the median forecast of 11.1 percent in a Bloomberg survey of economists.