Unemployment in the Eurozone has remained stubbornly high at 10% through December, equating to around 16 million people without work across the 16 relevant EU Member States, sparking concern as to the extent of the economic recovery in the region.
The rate of unemployment across the Eurozone has remained at 10% for December, marking the seventh consecutive month of double-digit unemployment and prolonging fears as to the resilience of the European regional recovery.
Unemployment, which is used as a key benchmark of economic success, has risen to 23 million across the European Union, as the wider European regional economy continues to move beyond the effects of the recent recession.
While the unemployment figures are by no means promising for the near term future of the Eurozone recovery, they do represent a fall in unemployment of around 73,000 from November, with Germany largely responsible for driving these improvements in unemployment figures.
Despite the wider unemployment problem, Germany reported a significant improvement in its rate of unemployment, posting the lowest levels of unemployment in almost 20 years to help weigh down the average of the Eurozone.
US unemployment figures over the same period came in at 9.4%, which is seen as comparatively high against the diverse economic makeup of the Eurozone region.