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Euro zone unemployment unexpectedly falls to 10-year low

Reuters  |  BRUSSELS 

(Reuters) - in the zone unexpectedly fell in November to its lowest rate in more than ten years, official estimates released on Wednesday showed.

The EU statistics office said in the 19-country currency bloc dropped to 7.9 percent in November, the lowest level since October 2008, and below economists' forecasts of an 8.1 percent rate.

also revised down its October reading to 8.0 percent from a previous estimate of 8.1 percent.

The fall was partly caused by a drop of the number of jobless in and which still have the highest rates in the zone after

Unemployment fell to 14.7 percent in from 14.8 percent in October. It went down to 10.5 percent in from 10.6 percent. The latest figures available for show an 18.6 percent rate in September.

The rate of jobless in and France, the two largest economies of the zone, remained stable at respectively 3.3 percent and 8.9 percent.

In the wider 28-country European Union, unemployment remained stable at 6.7 percent in November, estimated.

(Reporting by Francesco Guarascio)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 09 2019. 15:44 IST