Unemployment Shakes the Eurozone

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Eurozone unemployment figures hit an astonishing 16.5 million yesterday which is the highest unemployment figure in recorded history. Figures indicate that there is vast contrast between each member state; Germany’s unemployment shrank to a record low of 6.7% whereas Italy’s rose to 8.9%.
Spain is being hardest hit with levels reaching a new high of 22.85% - this figure is up at 47% in the under 25’s which paints a bleak picture for the future of the member state.

This morning reports in the UK indicate that house prices unexpectedly fell for the 2nd month in a row in January. Nationwide said that house prices dropped to -0.2% after a similar decline in December – house prices are just 0.6% up on year of year.

The impact on the rates has been mediocre; any Euro weakness has been countered by poor figures from the UK and as such we are still sitting in a range of 1.19- 1.21.

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Unemployment Shakes the Eurozone

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