Eurozone November unemployment falls despite tougher Covid rules
By Frank Prenesti
Date: Friday 08 Jan 2021
(Sharecast News) - Euro zone unemployment unexpectedly fell in November, casting aside renewed lockdowns ahead of Christmas break, according to data released on Friday by the European Union's statistics office Eurostat.
The jobless rate fell to 8.3% in November from 8.4% in October, against expectations of 8.5%. Eurostat said the number of people unemployed fell by 172,000 in the euro area compared with October, although it was up 1.425m from a year ago.
However, the unemployment rate rose to 18.4% in November from 18.0% in October for people younger than 25 years.
Eurostat estimated that 15.93m men and women in the EU, of whom 13.61m in the euro area, were unemployed in November 2020. Compared with October 2020, the number of persons unemployed decreased by 222,000 in the EU and by 172,000 in the euro area. Compared with November 2019, unemployment rose by 1.795m in the EU and by 1.425m in the euro area.
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