Eurozone jobless rate falls to record low in November

Number of unemployed falls 99,000 from prior month, nearing 11M in euro area

By Tuba Ongun

The jobless rate in the euro area fell to record low of 6.4% in November 2023 compared to the previous month, the EU's statistical office said on Tuesday.

The figure decreased from 6.5% in October 2023 and 6.7% in November 2022, Eurostat data showed.

EU-wide unemployment, which includes countries that are in the bloc but do not use its common currency, dropped to 5.9% in November, down from 6.0% in October 2023 and 6.1% in November 2022.

The number of jobless dropped by 144,000 in the 27-member bloc and 99,000 in the single currency zone, compared to a month earlier.

Some 12.9 million people in the EU, including 10.97 million in the euro area, were unemployed during the month.

In November, 2.8 million young persons (under 25) were jobless in the EU, of whom 2.321 million were in the euro area.

The youth unemployment rate stood at 14.5% both in the EU and in the euro area.

Kaynak: