Europe's job market indicates caution for money transfers

An expected rise in the eurozone's unemployment rates may encourage investors to be more cautious regarding money transfers to overseas assets.

Recent figures released by the European Union (EU) indicate the number of people out of work in Europe is likely to increase to 10.7 per cent in 2010 and 10.9 per cent the following year.

The news may discourage Brits from investing in companies abroad due to fears they may not see a healthy return on their investments.

However, further figures released by the EU show that the region's economy is expected to grow by 0.7 per cent and 1.5 per cent in 2010 and 2011 respectively.

Joaquin Almunia, EU economic and monetary affairs commissioner, said: "The EU economy is coming out of recession. The road ahead is a challenging one."

Meanwhile, the recent NatWest International Personal Banking's Quality of Life Index revealed that 90 per cent of expats have higher salaries abroad compared with their UK wages, the Telegraph reports.

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By Linsey Summers