Euro area: Unemployment rate drops unexpectedly in October

According to data released by Eurostat on 29 November, the number of unemployed fell by 61,000 people in October. The figure contrasted September’s 41,000 increase (previously reported: plus 60,000). October’s unemployment rate of 12.1% was slightly below the 12.2% recorded in September, which had represented a record-high for the region. In addition, October’s reading was just below the 12.2% that market analysts had expected.

Read more about European Unemployment.

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