Eurozone jobless rate stays at 9.1 pct in August

Source: Xinhua| 2017-10-02 22:05:07|Editor: liuxin
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BRUSSELS, Oct. 2 (Xinhua) -- The jobless rate across the 19-country Eurozone remained unchanged at 9.1 percent in August, the lowest rate recorded in the single currency zone since February of 2009, official data showed Monday.

In the wider 28-country European Union (EU), the unemployment rate was 7.6 percent in August, down from 7.7 percent in July, said Eurostat, the bloc's statistics agency.

Compared with the previous month, the number of persons unemployed decreased by 104,000

in the EU and by 42,000 in the Eurozone, the Eurostat added.

There were great disparities among member states as the Czech Republic recorded the lowest rate of 2.9 percent in August, followed by the bloc's power house Germany at 3.6 percent, while debt-torn Greece saw the highest reading of 21.2 percent.

Eurozone's August reading was a little disappointing as it came higher than the consensus forecast of a fall to 9 percent, said a research of the Capital Economics.

"Looking ahead, the euro-zone unemployment rate is likely to start falling again soon, and this should put upward pressure on wages," said Jack Allen, European economist at the Capital Economics.

August's labor market data will not deter the European Central Bank from announcing later this month that it will taper its asset purchases next year, said Allen, adding that the only gradual recovery in the labor market suggested that the Bank will wait a long time before tightening policy with higher interest rates.