The unemployment rate for the 17 member nations of the eurozone did not change in July, holding steady at 11.3%. What did change was the raw number of unemployed, which is now 18.002 million according to the European Union’s official statistics agency, Eurostat. Among the 27 EU nations, total unemployed number 25.254 million, and July’s unemployment rate among EU members is 10.4%, again unchanged from June. The eurozone total is the highest since record-keeping began in January 2005.
In July 2011, the unemployment rate in the eurozone was 10.1%, and among the EU the unemployment rate was 9.6%. Compared with July 2011, the number of unemployed in the eurozone rose by 2.051 million and in the EU the number rose by 2.104 million.
In Spain, the unemployment rate was 25.1%, up slightly from 24.9% in June and the highest level reported in 2012. In July 2011, Spain’s unemployment rate totaled 21.7%. The most recent number for Greece was reported in May — an unemployment rate of 23.1% — compared with 17.8% in July 2011.
On a related note, Eurostat released a flash eurozone estimate for August inflation today. The estimated annual inflation rate in August was 2.6%, up from 2.4% in July.
Paul Ausick
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.