ATHENS: Unemployment in the eurozone fell to 10.9 percent in July, the first time it has dipped below 11 percent since February 2012, raising hopes that economic recovery is taking hold, official data showed on Tuesday.
Joblessness in the 19-nation currency bloc fell from 11.1 percent in June, the EU statistics agency Eurostat said, but with youth unemployment at a still high 21.9 percent.
As usual, the level of joblessness varied widely across the eurozone, but the sharp fall will boost hope that Europe is emerging from its prolonged debt crisis. Unemployment in powerhouse Germany was unchanged at 4.7 percent, the lowest rate in the currency bloc. The highest rate was in debt-stricken Greece, at 25 percent in May, the latest data available, but down from 25.6 percent a month earlier.
