posted at 03:50
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Eurozone inflation falls to 0.3 percent, unemployment steady
The European Union's data agency Eurostat reported that unemployment remained steady at 11.5 percent in October, unchanged from September despite a stagnating economy. Growing concerns about exceptionally low price rises in the 18-country eurozone, which could augur a long period of low growth and falling prosperity, have prompted the European Central Bank to take unprecedented action in recent months. "Unemployment is still persistently high," he said. The eurozone unemployment rate was still lower than the 11.9 percent registered in October last year, according to Eurostat. Eurozone member Germany registered among the lowest unemployment rates at 4.9 percent in October, with Spain among the highest at 24 percent. In the 28 European Union member states, unemployment stood at 10 percent in October this year, unchanged from September. Eurostat estimated that in October 2014, 24.413 million people were unemployed in the 28 member states, including 18.395 million in the eurozone. Compared to October 2013, unemployment fell by 1.549 million people in the EU 28 and by 547,000 in the eurozone.

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