Unemployment continues to surge in European Union, euro-zone

September 2nd, 2009 Spending lifts euro economy in 2QBRUSSELS — Higher household spending supported the euro zone economy in the second quarter, the European Union statistics agency said Wednesday, in another upbeat sign for growth prospects. Eurostat confirmed an earlier estimate that the economy of the 16 nations that use the euro shrank by just 0.1 percent quarter-on-quarter, far less severely than officials had forecast, due to growth in the two biggest euro nations Germany and France.

August 28th, 2009 European business, consumer confidence up againLONDON — Business and consumer confidence in the 16-nation euro zone increased again in August, official data showed Friday, suggesting the region is slowly recovering from one of the worst economic downturns in decades. Eurostat, the European Union's statistics agency, said its measure of business sentiment for the euro-zone rose to -2.21 points in August from -2.70 points the previous month.

August 24th, 2009 Euro zone industrial orders rise in JuneLONDON — Industrial orders in the 16-nation euro zone rose 3.1 percent in June from the quarter before, official data showed Monday, suggesting the manufacturing sector could be emerging from recession. The European statistics agency Eurostat said new orders — a key gauge of industry's future growth — rose in both France and Germany, which emerged from recession in the second quarter, as well as Ireland, which has been among the hardest-hit by the global economic crisis.

August 14th, 2009 Euro area prices fell 0.7 pct in year to JulyLONDON — Prices in the 16 countries that use the euro fell on an annual basis for the second straight month in July and by more than previously anticipated, official figures showed Friday. The European Union's statistics office Eurostat said consumer prices in the euro zone fell by 0.7 percent in July from the previous year, 0.1 percentage point more than it had previously estimated and ahead of June's 0.1 percent fall.

August 5th, 2009 Euro retail sales fall 0.2 pct in JuneBRUSSELS — The European Union says retail sales in the 16 nations that use the euro fell 0.2 percent in June from a month earlier, showing that consumers are wary of spending as unemployment hits a 10-year high. Shoppers cut back spending both on daily essentials such as food, drink and tobacco and on non-food items such as clothing, electronics and medicines.

July 31st, 2009 Euro-zone prices fall for second monthBRUSSELS — The EU statistics agency says euro-zone consumer prices fell 0.6 percent in July from a year ago. Lower demand for energy and other goods has caused prices to plunge in the region, according to figures released Friday.

July 31st, 2009 Euro-zone prices fall as unemployment risesBRUSSELS — Falling prices and rising unemployment in the 16 nations that use the euro show an economy still mired in recession despite recent green shoots of recovery, according to EU statistics published Friday. Euro-zone consumer prices fell for a second month in July as the June jobless rate rose to a 10-year high to 9.4 percent, the EU statistics agency Eurostat said.

July 2nd, 2009 Euro zone unemployment hits 10-year high in MayLONDON — Unemployment in the 16 countries that use the euro spiked to a ten-year high in May, reinforcing concerns any recovery will take time now that more than 15 million people are out of work. Eurostat, the statistics office of the EU, said Thursday the seasonally-adjusted unemployment rate for the euro zone in May stood at 9.5 percent of the work force, up from April's 9.3 percent.

June 12th, 2009 Euro zone industrial output slumps in AprilLONDON — Industrial production in the 16 countries that use the euro slumped in April, official figures showed Friday, stoking fears that the euro zone remains in the grip of recession despite signs elsewhere that a recovery of sorts may be underway. The European Union's statistics office Eurostat said a 1.9 percent drop in April — the eighth consecutive monthly fall — pushed the annual rate of decline down to a record 21.6 percent.

June 3rd, 2009 EU provides euro19 billion to fight unemploymentBRUSSELS — The European Commission is making available euro19 billion ($27 billion) for EU governments to help combat unemployment in 2009 and 2010. It says governments can use the money to combat joblessness, create jobs or retrain workers.

May 6th, 2009 Euro-zone retail sales slide by record 4.2 pctBRUSSELS — Retail trade in the 16 nations that use the euro slid by a record 4.2 percent in March from a year ago, the EU statistics agency said Wednesday, as recession-hit shoppers cut back over worries on rising unemployment. The European Union said some 8.5 million jobs will disappear this year and next year as the economies of both the euro area and the 27-nation European Union shrink by 4 percent.

May 4th, 2009 Euro-zone official warns of jobless crisisBRUSSELS — The euro-zone's top economy official said Monday that Europe was "heading toward a social crisis" as unemployment rates rocket to a postwar record. The European Commission predicted earlier that the jobless rate in the 16 nations that use the euro would climb to 9.9 percent this year and 11.5 percent next year — the highest since the Second World War.

April 30th, 2009 Euro jobless rate surges, inflation stableBRUSSELS — The jobless rate in the 16 nations that use the euro surged to 8.9 percent in March, the highest level in nearly five years, the EU statistics office said Thursday. Unemployment is rising steeply despite recently higher business and consumer optimism about their recession-hit economy.

April 29th, 2009 European economic confidence bounces backBRUSSELS — European business and consumer confidence bounced back in April for the first time in nearly two years, the European Commission said Wednesday. The EU executive said its monthly survey of companies and shoppers across the European Union and in the 16 countries that share the euro showed more optimism for the first time since May 2007, rising from record lows.

April 22nd, 2009 IMF says euro zone to shrink 4.2 percent this yearLONDON — The International Monetary Fund is warning that the countries using the euro currency will see their economies shrink 4.2 percent this year. It says next year will be tough as well but that the economy should start bouncing back sometime in 2010.