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European unemployment holds steady at 10%



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It's not great but it could be much worse.

The unemployment rate in Germany dipped to 7% in May from 7.1%, while France's jobless rate was unchanged at 9.9% and Italy held steady at 8.7%.

Spain's unemployment rate -- the highest in the euro zone -- rose to 19.9% from 19.7% in April, Eurostat said. Separately, the Spanish government on Friday said jobless claims fell in June for a third straight month. Read about Spanish jobless claims.

Elsewhere in the periphery of the euro zone, Irish unemployment rose to 13.3% in May from 12.9% in April. The Portuguese jobless rate rose to 10.9% from 10.8%.


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