Unemployment in the eurozone remained stable at 7.5 per cent in November, its lowest level since July 2008, the EU’s Eurostat data office said today. The level was in line with forecasts by analysts surveyed by financial services provider Factset. Unemployment already stood at 7.5 per cent in October.
Since it fell below the symbolic 10.0 per cent threshold in September 2016, unemployment in the eurozone has been falling steadily. At the height of the debt crisis, unemployment in the single currency area reached a record high of 12.1 per cent in 2013.
Among the 19 countries in the eurozone, Germany had the lowest unemployment rate in November at 3.1 per cent. The highest rates were recorded in Greece at 16.8 per cent in September, the most recent data available, and Spain at 14.1 per cent. The unemployment rate across the 28 member EU was 6.3 per cent in November, unchanged compared to October.