Unemployment In Europe Improves By A Tiny Bit

The unemployment rate in the euro area slipped to 11.5% in June from 11.6% in May.

This was marginally better than the 11.6% unemployment rate forecasted by economists.

Still, this is up from 10.2% a year ago, and it reminds us that Europe continues to have problems.

And the story continues to be very uneven.

The German unemployment rate stands at 6.7%, but in Italy the unemployment rate is at 12.3%.

It's even worse in Spain and Greece where the unemployment rates are at 24.5% and 27.3%, respectively.