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Euro zone unemployment rate holds steady at near 5-year low

Published 05/31/2016, 05:03 AM
Updated 05/31/2016, 05:03 AM
© Reuters. Euro zone unemployment rate holds steady at near 5-year low

Investing.com - The euro zone’s unemployment rate held steady at the lowest level in almost five years in April, fueling optimism over the health of the region's economy, official data showed on Tuesday.

In a report, Eurostat said that the euro zone’s unemployment rate was unchanged at a seasonally adjusted 10.2%, in line with expectations. This is the lowest rate recorded in the euro area since August 2011.

The EU28 unemployment rate was 8.7% in April, down from 8.8% in March, and from 9.6% in April. This is the lowest rate recorded in the EU28 since April 2009.

EUR/USD was trading at 1.1133 from around 1.1131 ahead of the release of the data, while EUR/GBP was at 0.7625 from 0.7620 earlier.

Meanwhile, European stock markets were broadly lower. The EURO STOXX 50 shed 0.3%, Germany's DAX dipped 0.35%, France’s CAC 40 slumped 0.3%, while London’s FTSE 100 declined 0.2%.

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