Eurozone’s unemployment rate falls to lowest

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The unemployment in the eurozone has come down to the lowest rate in more than 10 years. According to the November 2018 figures published by the European Union’s statistical office, Eurostat, it is at 7.9 per cent.

The rate for 19 EU countries is the lowest level since October 2008 and below the 8.1 forecast by economists.

However Greece (18.6%)) and Spain (14.7%) continue to have the highest unemployment rates in the eurozone

The number of unemployed across 28 member states declined by 107,000 to 16.4 million.

In Germany and France, the two leading economies, the rate stood at 3.3 per cent and 8.9 per cent respectively.

The lowest unemployment rates were reported from Czechia (1.9%), Germany (3.3%) and Netherlands (3.5%).

The unemployment rate, which had climbed to more than 12 per cent following the 2007-08 financial crisis, fell below 10 per cent for the first time in September 2016.

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