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EU unemployment stable at 8 percent, growth up in 2Q
Published in Saudi Press Agency on 01 - 09 - 2006


Unemployment in the European
Union was unchanged at 8 percent in July despite economic
growth of 0.9 percent in the second quarter, AP quoted a statement released Friday by the EU's statistics office.
The jobless rate represented a fall from 8.7 percent in
July 2005.
Eurostat said the 0.9 percent second-quarter growth rate
in the 25-nation bloc compared to 0.7 in the U.S. and 0.2
percent in Japan.
Still, Europe's unemployment rate continues to lag behind
that of its trading partners with the U.S. registering 4.8
percent out of work in July and Japan 4.1 percent.
Poland, with 15 percent, had the EU's highest jobless
rate, followed by Slovakia with 14 percent. Other new EU
members saw significant falls in unemployment over the
year. Estonia's rate fell to 4.2 percent from 7.6 percent
since July 2005, and Lithuania's from 8 percent to 5.5
percent.
Over the year, the EU economy grew by 2.8 percent from the
second quarter of 2005. In the 12-nation euro currency
zone, second quarter growth was also 0.9 percent,
representing a 2.6 percent rise.
First quarter growth this year was 0.8 percent in the EU
and the euro-zone.


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