Euro-Zone employment increased at its slowest pace in two years, rising 0.2% in the second quarter, while the yearly figure slipped to 1.2% from 1.6%. Sluggish labor demands suggests that economic activity may remain subdued for the rest of the year as Germany and Spain are on the brink of a recession. Meanwhile, industrial production fell more than expected, slipping to -1.7% from the previous year, which highlights that slowing demands from the global economy is clearly taking a toll on the European economy.
