Euro Area: Unemployment rate stable in October

Euro Area Unemployment October 2023

Euro Area: Unemployment rate stable in October

The seasonally adjusted unemployment rate came in at 6.5% in October, unchanged from September’s reading.

Nine economies saw their unemployment rates stable in October, including France, Germany and Spain. Meanwhile, five economies saw their unemployment rates decrease, including the Netherlands, while five economies saw their unemployment rates increase, including Italy.

Significant disparities in labor market conditions between core and periphery countries persist. Spain is the economy with the highest unemployment rate of 12.0%, followed at some distance by Greece (10.0%, latest data from September). At the other end of the spectrum, Malta (2.5%) and Germany (3.1%) have the lowest unemployment rates.

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