Unemployment, inflation stable in eurozone

CNC
Added On August 2, 2015

  Unemployment and inflation was stable in the 19-nation eurozone in early summer, when the Greek crisis was raging on and raising concerns over the outlook of the currency union. 

The European Union's statistical agency, Eurostat, said Friday that the jobless rate stood at 11.1 percent in June, unchanged for a third straight month after declines earlier in the year.  
 
Among the euro member states, Greece had the highest rate at 25.6 percent and Germany the lowest level at 4.7 percent.   
 
The EU's executive Commission has been pushing hard to create job-boosting measures and as of this fall.
 
The European Investment Bank will start selecting projects to invest in using a 315 billion euro program that seeks to create some 1.3 million jobs.  
 
Greece also had the highest level of youth unemployment at 53.2 percent in April, the last month for which it had statistics available. That's more than twice the eurozone average of 22.5 percent.  
 
Meanwhile, the inflation in Eurozone stayed unchanged in July at 0.2 percent, suggesting the single currency bloc still faces challenges to meet its ambitious inflation goal.
 
Services sector contributed most to the zone's July consumer price rising, up by 1.2 percent.
 
The price of food, alcohol and tobacco followed, rising 0.9 percent. Energy continued to tumble however, at negative 5.6 percent.