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Eurozone unemployment falls to decade-low in November 2018

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Eurozone unemployment falls to decade-low in November 2018

Unemployment in the eurozone dipped to 7.9% in November 2018 from 8.0% in October 2018 after seasonal adjustments, according to data from Eurostat.

The latest figure is the lowest rate of unemployment recorded in the bloc since October 2008. The Econoday consensus estimate for the unemployment rate was 8.1%.

The statistical agency estimates that 13.04 million people in the eurozone were unemployed in November 2018, down by approximately 90,000 from the previous month.

Spain recorded the highest November unemployment rate among all eurozone member countries at 14.7%, followed by Italy at 10.5%, while Germany had the lowest rate at 3.3%.