Euro zone joblessness hits pleatau

Euro zone unemployent levelled off at a 10 year high in October, according to data released on Tuesday, with a seperate figure from Germany even indicating a small fall in the jobless figures last month.The uninterrupted rise in joblessness in the 16 nation bloc since Feb-2008 pushed unemployment rate to 9.8%on a seasonally adjusted basis.The rise in unemployment in the Euro zone has been much muted in the euro zone than in the US thanks to the Govt.sponsored short-time working schemes that encouraged employers to hold on workers. The headline eurozones hides consid- erable divergence between member states.Unemploment rate in Amsterdam remain below 4% where as in spain 1 in 5workers seeking work.Countries in eurozone have 15.6million unemployed, since the most European Commission began compiling data in the mid 1980's Unemployment rate in Germany surprised the economists as naational statistics brought it to 8.2% to 8.1%.,the first rate drop in three months.In spite of the steepest downturn in Germany the crisis has has little impact on labour market so far vindi- cating the Govt.efforts to expand its short-term subsidiary scheme which covered 1 million workers.In spite of return to growth, in eurozone in 3rd quarter, econo- mists unemployment rate 2 digit in 1st half of 2010.According to details of latest eurozone purchasing manager indices also published report saying that Spain and Greece -national output diminishing faster than in October. Diverging economic performance across eurozone complicates the task of ECB as it prepares to withdraw the exceptional measure taken to support the financial system.