The euro area unemployment rate declined to its lowest level since early 2012, data from Eurostat showed Tuesday.
The unemployment rate dropped marginally to 10.7 percent in October from 10.8 percent in September. This was the lowest rate since January 2012.
The number of unemployed persons decreased by 13,000 from September to 17.24 million in October. Compared to previous year, unemployment fell 1.302 million.
In the EU28, the jobless rate remained unchanged at 9.3 percent in October. This was the lowest rate recorded in the EU28 since September 2009.
The euro area youth unemployment rate was 22.3 percent compared with 23.3 percent in the same period of last year.
The material has been provided by InstaForex Company – www.instaforex.com