EU, eurozone unemployment rates remain stable in October

By Emir Yildirim

ISTANBUL (AA) - The EU and the eurozone’s unemployment rates were stable for three consecutive months in October, according to Eurostat on Monday.

The unemployment rates of the EU and the eurozone were at 5.9% and 6.3%, respectively, in October, the data showed.

The number of unemployed people totaled 12.9 million in the EU, 10.8 million of which were in the eurozone in October.

Unemployment fell by 70,000 people month-on-month in the EU, 3,000 of whom were in the euro area.

Eurostat recorded 2.9 million unemployed young people below the age of 25 in the EU, registering a decrease of 17,000 on a monthly basis. The eurozone accounted for 2.4 million of the number of unemployed young people, up by 35,000 people.

The EU’s youth unemployment rate fell from 15.3% in September to 15.2%, while the same rate in the euro area slightly rose from 14.9% to 15% over the same period.

The eurozone/euro area, or EA19, represents member states that use the bloc’s single currency, the euro, while the EU27 includes all member countries.