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Financial News: Eurozone Jobless Rate Steady At 7.5%, Lowest Since

Eurozone Jobless Rate Steady At 7.5%, Lowest Since 2008

01/09/2020 - 07:43:00 (RTTNews)

(RTTNews) - Eurozone unemployment rate remained at the lowest level since 2008, despite subdued economic growth at the end of the year.

The jobless rate came in at 7.5 percent in November, unchanged from October, Eurostat reported Thursday. The rate also came in line with economists' expectations.

The number of people out of work decreased by 10,000 persons in November from the previous month. From last year, the unemployment figure fell by 624,000 persons to 12.31 million.

The unemployment rate among youth aged below 25 held steady at 15.6 percent in November.

Data showed that the unemployment rate in the EU28 also remained unchanged in November, at 6.3 percent, the lowest on record.

The lowest rate in EU28 was reported by the Czech Republic, at 2.2 percent. Meanwhile, the highest rates were seen in Greece and Spain.

Among the big-four nations in the euro currency bloc, Germany's jobless rate remained near a record low of 5 percent in December, the Federal Employment Agency reported last week.

Spain's labor ministry said the unemployment reached its lowest level for the month of December in more than a decade. Unemployment totaled 3.163 million, the ministry said.

Italy's unemployment rate was stable at 9.7 percent in November, Istat data revealed Thursday.

The jobless rate in France fell to 8.4 in November from 8.5 percent a month ago, according to Eurostat.

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