Eurozone jobless falls to decade-low in November | 2019-01-10

Eurozone jobless falls to decade-low in November

10 January, 2019 12:00 AM printer

BRUSSELS: Unemployment in the eurozone fell in November, data showed on Wednesday, as joblessness in Europe neared pre-crisis levels.

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, reports AFP.

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.