According to the official figures, the unemployment rate of Eurozone is still standing at a record rate of 10% for the fifth consecutive month.

As per the figures of the statistic agency of EU, Eurostat around 16 million people remain unemployed in the 16 countries of Europe which use the euro currency.

The Eurostat has also reported a fall in the rate of inflation in the Eurozone countries. As per the reports, Spain is on the top of the list in terms of unemployment rate.

The prices rose by 1.6% in the month of August down from 1.7% of the previous month and it is still well below the target of 2%.

The European economist Christoph Weil has said the outlook for inflation is still good in the Eurozone countries. The main reasons behind unemployment are the moderate wage inflation and the weak domestic demands of new products.

But the unemployment rate of Eurozone remained flat in the past months while many countries saw up and down in their unemployment rate. Germany, Malta and Austria saw fall in their unemployment rates and raised some hope for other countries.