The euro area unemployment rate for November 2019, taking seasonal adjustments into account, was the lowest rate recorded since July 2008, a Thursday Eurostat report revealed.
The 7.5% unemployment rate was down slightly from the same time last year, when it was 7.9%. The November 2019 figure translates into around 12.3m individuals in the euro area. However, year on year, this figure fell by 624,000 individuals.
Statistics for the EU28 reveal an unemployment rate of 6.3%, the lowest since January 2000, or nearly 15.6m individuals, rounded.
Compared year-on-year, Luxembourg’s unemployment rate rose +0.1% (to 5.5% in November 2019) and was just below the EU28 average of 6.3%. The breakdown of women and men unemployed in the grand duchy was nearly equal (5.6% and 5.5%, respectively).
The highest unemployment rates noted among the members states were in Greece (16.8), Spain (14.1) and Italy (9.7), while the lowest were seen in Czechia (2.2%), Germany (3.1%) and Poland (3.2%). By way of comparison, the US unemployment rate for November 2019 was 3.5%.