Brussels, Monday, 10 January 2022 -
The unemployment rate in the Eurozone fell to 7.2 percent in November 2021, according to the EU statistical agency.
Eurostat stated in a statement that the ratio was down from 7.3 percent a month ago and 8.1 percent in November 2020.
November marked the lowest unemployment statistic until that time in 2021, after falling for the seventh month in a row, with the greatest level of 8.2 percent recorded in January.
From October 2021 to October 2022, the number of unemployed persons fell by 220,000.
The unemployment rate in the EU27 fell to 6.5 percent, down from 6.7 percent in October and 7.4 percent the prior month.
The Eurozone/euro area, or EA19, is made up of member states that utilize the single currency, the euro, while the EU27 is made up of all of the bloc's members.
According to Eurostat, the number of unemployed persons in the EU's 27 member states decreased by 247,000 month on month.
"Unemployment in the EU fell by 1.7 million in November 2020 and by 1.4 million in the euro area," it stated.
In November, the youth unemployment rate in the EU was 15.4 percent and 15.5 percent in the euro area, respectively, down from 15.6 percent and 15.8 percent the previous month.
In the EU, 2.84 million young people under the age of 25 were unemployed, with 2.31 million in the Eurozone.
In November, the unemployment rate in the euro area was 7.5 percent for women and 6.9 percent for men.
(Written and edited by: The Decision Maker – Banking & Finance editors)