Eurozone jobless rate at 9.8% in October

Economy 12/1/2016, 11:01 AM
Eurozone jobless rate at 9.8% in October

The seasonally adjusted unemployment rate in the euro area came in at 9.8% in October, slightly down from the prior month's revised figure of 9.9% and from 10.6% seen a year ago. This is the lowest rate recorded in the Eurozone since July 2009, according to data released by Eurostat on Thursday.

In the whole European Union, the rate of unemployment decreased to 8.3% in October from 8.4% seen in September, and compared to 9.1% recorded a year ago. This is the lowest rate seen in the EU28 since February 2009, the report said.

According to estimates, 20.448 million men and women in the EU, of whom 15.908 were in the single currency area, were without a job in October, down by 190,000 and 178,000, respectively, relative to the month before. Compared to a year earlier, unemployment fell by 1.782 million in the bloc and by 1.124 in the euro area. Among the member states, the lowest unemployment rates in October were seen in the Czech Republic, of 3.8%, and Germany, equal to 4.1%. The highest jobless rates were observed in Greece, equal to 23.4% in August, and Spain, of 19.2%.

TeleTrader Newsroom / IB