FX.co ★ Eurozone Jobless Rate Falls Slightly In October

Eurozone unemployment rate dropped marginally in October, data from Eurostat showed on Thursday.

The unemployment rate for October was 6.5 percent, down from 6.6 percent in September. In the same month last year, the jobless rate stood at 7.3 percent.

Economists had forecast the jobless rate to remain unchanged at 6.6 percent in October.

The number of people out of work decreased 1.053 million from the last year to 10.872 million.

The youth unemployment rate dropped to 15.0 percent from 15.2 percent in the previous month. The jobless rate in the EU27 came in at 6.0 percent versus 6.1 percent in September and 6.6 percent in October 2021. The unemployment rate for young people aged below 25 stood at 15.1 percent compared to 15.2 percent in the previous month.