Euro Area: Unemployment rate drops in October

Euro Area Unemployment October 2021

Euro Area: Unemployment rate drops in October

Labor market conditions in the common currency block improved in October. The number of unemployed people decreased by 64,000, with the unemployment rate falling to 7.3% in October from 7.4% in September.

Looking at countries, seven economies saw their unemployment rate decrease in October, including France, the Netherlands and Spain. On the other hand, five economies saw their unemployment rate increase, including Italy. Meanwhile, seven economies saw a stable unemployment rate, including Germany.

Disparities in the labor market among core and periphery countries persist. Spain (14.5%) and Greece (12.9%) are the economies with the highest unemployment rates. At the other end of the spectrum, the Netherlands (2.9%), Germany (3.3%) and Malta (3.6%) have the lowest unemployment rates.

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