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Euro zone unemployment rate falls to 11.7% in April

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Investing.com -

Investing.com - The euro zone's unemployment rate fell unexpectedly in April, easing concerns over the region's growth prospects, official data showed on Tuesday.

In a report, Eurostat said that the euro zone's unemployment rate ticked down to a seasonally adjusted 11.7% in April from 11.8% in March. Analysts had expected the jobless rate to hold steady at 11.8%.

The data showed that among the member states, the lowest unemployment rates were recorded in Austria (4.9%), Germany (5.2%) and Luxembourg (6.1%), and the highest in Greece (26.5% in February 2014) and Spain (25.1%).

Following the release of the data, the euro turned higher against the U.S. dollar, with EUR/USD rising 0.04% to trade at 1.3603, compared to 1.3593 ahead of the data.

Meanwhile, European stock markets remained lower. The Euro Stoxx 50 fell 0.15%, France's CAC 40 dipped 0.1%, Germany's DAX slumped 0.25%, while London's FTSE 100 declined 0.4%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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