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Eurozone Unemployment 7.2%, Youth Unemployment at 2008 Low

EUROZONE DATA
MNI (London)

EZ NOV UNEMPLOYMENT RATE 7.2%; OCT 7.3%

  • Eurozone unemployment came in as forecast at 7.2% for November, down from 7.3% in October.
  • Just under 12 million people were estimated to be unemployed in the Eurozone in November, bringing unemployment for the region back in line with pre-pandemic February 2020 levels.
  • Youth unemployment saw a substantial recovery to 15.5% in November from 15.9% in October. This brings youth unemployment in the Eurozone to the lowest reading since 2008 levels.
  • It is however worth noting that this November data omits the implications of the surging wave of omicron COVID-19 cases in the past six weeks and the effect on the labour market outlook.

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