Eurozone unemployment drops to 7.7pc in June

Finance | 30 Jul 2021 6:58 pm

Eurozone unemployment  was at 7.7 percent in June, down from 8 percent  in May. Inflation climbed to 2.2 percent in July from 1.9 percent in June.

The eurozone economy has been sustained by government spending on pandemic relief including subsidies for companies that keep furloughed workers on the payroll.

The European Central Bank is adding monetary support by keeping interest rate benchmarks at record lows and by purchasing 1.85 trillion euros (US$2.2 trillion) in government and corporate bonds through at least March 2022.

That step drives down longer-term borrowing rates and helps keep credit flowing to businesses and governments.



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