Unemployment hit its Lowest Level in December Since May 2008

The unemployment rate in the euro zone reached its lowest level in May 2008 at 7.4% in December, the European Statistics Office Eurostat announced on Thursday.

This figure is better than that anticipated by analysts interviewed by the financial service provider Factset, who expected 7.5%. Unemployment had reached 7.5% in November.

Since it fell back below the symbolic 10.0% threshold in September 2016, unemployment in the euro zone has continued to fall. At the worst of the debt crisis, unemployment reached the record rate of 12.1% in the single currency area in April, May and June 2013.

Among the 19 countries in the zone, Germany and the Netherlands had the lowest unemployment rate in December (3.2%). At the other end of the scale, the highest rates were found in Greece (16.6% in October, no more recent data available) and in Spain (13.7%). In the 28 EU countries, the unemployment rate stood at 6.2% in December, down from 6.3% in November.

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Unemployment hit its Lowest Level in December - /10

Summary

The unemployment rate in the euro zone reached its lowest level in May 2008 at 7.4% in December, the European Statistics Office Eurostat announced on Thursday.

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