Eurozone Unemployment Fell To 10 Year Low In November 2018

Unemployment in the eurozone fell in November, data showed on Wednesday, as joblessness in Europe neared pre-crisis levels, reports AFP

Eurostat said the jobless rate in the single currency area fell to 7.9 percent in November, a 10-year low and down from a revised 8.0 percent for the previous month.

Unemployment in the euro area has been falling steadily since it fell below the symbolic threshold of 10 percent in September 2016.

With the latest data, unemployment nears the average rate before the 2007-08 financial crisis, when it stood at 7.5 percent.

At the worst of the ensuing debt crisis in 2013, unemployment reached a record 12.1 percent in the euro area.

Among the 19 single currency countries, the lowest unemployment rate in November was recorded in Germany at 3.3 percent, according to Eurostat.

The highest rate was in Greece with 18.6 percent in September, the latest available figure. Spain was on 14.7 percent.

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