Eurozone report shows lowest unemployment since 2008


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.

By: Abaigael Schlomski

Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.

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