Eurozone Unemployment Rate Lowest In More Than 7 Years
01 Diciembre 2016 - 1:08AM
RTTF2
Eurozone unemployment rate declined to the lowest in more than
seven years in October, reflecting strong momentum in the labor
market despite weak economic growth.
The jobless rate dropped to 9.8 percent in October from a
revised 9.9 percent in September, Eurostat reported Thursday. This
was the lowest since July 2009.
Economists had expected the rate to remain unchanged at
September's initially estimated 10 percent.
The number of unemployed decreased by 178,000 from the previous
month to 15.908 million. Compared to a year ago, unemployment fell
by 1.124 million.
However, the youth unemployment that applies to those under 25
years of age held steady at 20.7 percent in October.
Final Purchasing Managers' survey results for November also
showed on Thursday that more jobs were created in the manufacturing
sector with the pace of growth only marginally below October's near
five-and-a-half year record.
The manufacturing Purchasing Mangers' Index rose to 53.7 from
53.5 in October. A reading above 50 suggests expansion in activity.
The sector expanded at the fastest pace in 34 months in
November.
Improving labor markets are key if Eurozone consumers are to
make a solid contribution to growth over the coming months,
especially as gradually rising inflation is likely to eat into
purchasing power over the coming months, IHS Global Insight
economist Howard Archer said.
However, Capital Economics economists said the Eurozone
unemployment data showed that the labor market recovery has
regained some pace. But the rate of unemployment is still high and
recent developments are consistent with pretty slow wage
growth.
The EU28 unemployment rate came in at 8.3 percent, the lowest
since February 2009, versus 8.4 percent in September.
Among the member states, the lowest unemployment rates were
registered in the Czech Republic and Germany, while the highest in
Greece.
According to Germany's Federal Labor Agency, the unemployment
rate declined to 6 percent in November, the lowest since the German
reunification in 1990.
Elsewhere, data from the statistical office Istat showed that
the Italy's unemployment rate slid to 11.6 percent in October from
11.7 percent in September.
Euro vs Sterling (FX:EURGBP)
Gráfica de Divisa
De Mar 2024 a Abr 2024
Euro vs Sterling (FX:EURGBP)
Gráfica de Divisa
De Abr 2023 a Abr 2024