Eurozone report shows lowest unemployment since 2008

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Unemployment in the euro zone fell slightly in October to 7.5 percent from a revised 7.6 percent a month earlier. The European statistics agency Eurostat reported the figure. That is the lowest level since July 2008.

According to Eurostat, more than 12.3 million people were unemployed in the euro area. The unemployment rate for the entire European Union was 6.3 percent. That amounts to 15.6 million unemployed. The lowest unemployment rate in the EU was measured in the Czech Republic. Unemployment was still highest in Greece.

In addition, nearly 2.3 million young people were unemployed in the euro zone. In all 28 EU countries, more than 3.2 million people under the age of 25 had no job.

About the author

Maurice Eisma

Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email [email protected]

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