Wednesday, May 02, 2007

EU Unemployment Falls to Record Low: 7.3%

According to Reuters, European Union statistics office Eurostat reported that the seasonally adjusted jobless rate in the 13 countries using the euro dipped to 7.2% - the lowest reading since its records began in 1993 - from 7.3% in February.

1. The state with the highest unemployment rate in the U.S. is Mississippi at 6.9%, well below the average EU country.

2. When the jobless rate in the U.S. was above 6% for six months in 2003, it was called a "jobless recovery."

3. The U.S. economy, even its worst years like 2003 when the unemployment rate hit 6.3%, is still better than the EU economy in its best years when the unemployment is at an historical low of 7.2%.

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