International Business

Times Staff and Wire Reports

European Unemployment Eases: The jobless rate dipped in December to 10.8% from a revised 10.9% over the previous four months, the European Commission's statistical office said. Eurostat said the figures show that unemployment peaked at 11% in mid-1994, following four years of inexorable increases. For the year, it said, the rate was 10.9%, compared to 10.5% in 1993. Spain continued to have the highest number of unemployed, with a rate of 22.6% in December. Next was Ireland, with 17.6%, Italy with 12.2% and France with 11.3%. Except for Greece, for which there are no figures, the other countries that make up the European Union had below-average unemployment rates in December.

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