BRUSSELS (AP) — The number of unemployed in the 17-nation eurozone reached a record high in September as the bloc’s nascent recovery failed to generate jobs, official data showed Thursday.
The ranks of the jobless swelled by 60,000 to , the European Union’s statistics agency. Though the unemployment rate remained steady at 12.2 percent, .
Nothing says a growing economy like record unemployment. Fortunately for the Europeans, the ECB has their back! While they might not have jobs, they going to make use their money doesn’t gain value!
The ECB may be pushed into action eventually if the inflation rate keeps dropping. Eurostat said the annual inflation rate fell to 0.7 percent in October from 1.1 percent a month earlier, marking its lowest level in about four years. The ECB is tasked with keeping inflation close to, but below 2 percent.
“Latest developments reinforce our view that the ECB will…
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