2007-07-13

Euro unemployment

Has now dropped to 7.0%.

I would class this as "moderate". It's still too high but I think the Eurozone's economy is growing fast enough to produce a decent amount of jobs. Eurozone GDP grew by 3.0% in the first quarter, compared to US GDP growth of 1.9%.

The Eurozone is less impacted by the subprime mortgage problem in the US. Moreover, the Euro is growing in value compared to the US Dollar, allowing benign inflation (2.0% compared to the US figure of 2.7%) and encouraging consumption which, amongst other things, increases employment.


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