- Banque de France
Greece's jobless rate rose in the first quarter of the year, a reminder that austerity programmes and the ongoing unresolved debt crisis has been weighing on the nation's economy. Greece's unemployment rate rose to 26.6% in the first three months of the year from 26.1% in the final quarter of 2014. The highest unemployment rate of 27.8% was recorded in the first quarter of 2014.The debt-ridden country also struggles with its long-term unemployment problem, with about 71.6% of Greece's 1.27 million jobless being without work for at least 12 months.
Meanwhile, in the Euro zone's second biggest economy, France, price growth accelerated slightly both on a monthly and annual basis in May, after escaping from deflation last month. In annual terms, the French CPI climbed 0.3% in the reported month, following the 0.1% increase in the preceding month. The measure had slid into negative territory in January for the first time in more than five years. On a monthly basis, inflation in came in at 0.2% in May, compared with the 0.1% in April, and remained in positive territory for the fourth consecutive month. Meanwhile, the inflation rate in the Euro zone rose 0.3% in May, following a flat reading in April.
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