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Euro Area unemployment at record low of 6.4%

The seasonally-adjusted unemployment rate in the Euro Area was reported to have decreased to 6.4% in November from 6.5% in October.

The latest figure matched the all-time low from June 2023.

The number of unemployed persons dropped by 99,000 from the October level to 10.970 million, data by Eurostat showed on Tuesday.

The youth unemployment rate in the Euro Area, which reflects persons aged under 25 who seek employment, decreased to 14.5% in November from 14.8% in October.

The lowest jobless rates were registered in Germany and the Netherlands – 3.1% and 3.5% respectively.

Meanwhile, among major economies in the bloc, the highest jobless rates were recorded in Spain (11.9%), Italy (7.5%) and France (7.3%).

The Euro was last inching down 0.05% on the day against the US Dollar, with the EUR/USD currency pair trading at 1.0945.

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