EU Unemployment Falls

(MENAFN- Qatar News Agency) The number of jobless in Europe fell slightly in July and business optimism rose, according to official data released Friday, adding to the tentative signs that the region's economy is staging a modest comeback. Europe's statistics office said Friday the number of unemployed in the eurozone was down by 15,000 to 19.23 million, marking the second consecutive fall since April 2011. The jobless rate remained at a record of high of 12.1 percent, according to ABC news. Meanwhile, an index of European business sentiment rose again on the month while the monthly inflation rate for the 17 nations using the euro decreased. "The recent improvements are minimal, and the situation is still very fragile," said European Union Employment Commissioner Laszlo Andor. "This is no time for celebration or complacency." The economy of the 17 EU nations that use the euro had been stuck in an 18-month recession to the first quarter of this year as a debt crisis prompted many countries to pursue tough austerity policies that weighed on growth and confidence. The eurozone finally moved out of recession in the second quarter of this year, showing a 0.3 percent increase in annual economic output. In a further upbeat signal for the region's economy, an index tracking economic sentiment increased by 2.7 points to 95.2 in the eurozone and by 3.1 points to 98.1 in the wider EU, marking the fourth consecutive monthly increase in both areas, while reaching a two-year high in the EU.