News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Eurozone Unemployment Rate Climbs to 11%

Eurozone Unemployment Rate Climbs to 11%

David Schutz,

THE TAKEAWAY: Euro-area unemployment unchanged at 11% -> Euro weak as focus remains on Greek situation

Unemployment in the 17-member Euro monetary union climbed to 11% in April from 10.9% previously. Increased Spanish jobless numbers notably contributed to the rise, which came as companies lay off many employees in a bid to lower costs in a time of eroding consumer confidence.

Meanwhile, political focus remained on fiscal difficulties as Greece prepares for a second round of elections in two weeks.European leaders are hoping the elections will usher in a government which will adhere to the terms of the massive bailout agreement between Greece and the European Union, but the last Greek elections last months failed to produce a stable government.

Eurozone_Unemployment_Rate_Climbs_to_11_body_BOE.png, Eurozone Unemployment Rate Climbs to 11%

Recent instability has weakened the Euro, which traded quietly against the US Dollar and Japanese Yen today as markets waited to absorb US non-farm payroll data which was due out at 1230 GMT.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES