Euro Area Unemployment Falls To 3-Year Low; Markets Extend Losses After Weak China Data
Unemployment in the eurozone fell to its lowest level in over three years, even as the region’s stock markets continued to reflect the global turmoil caused by economic troubles in China. According to data released Tuesday by Eurostat -- the European Union’s statistics office in Luxembourg -- the seasonally adjusted unemployment rate for the 19-nation bloc was 10.9 percent in July, falling below 11 percent for the first time since February 2012.