Eurozone unemployment narrowly beats forecasts in November

Eurozone unemployment narrowly surpassed market forecasts in November 2023, according to Eurostat, and was in line with June's historic low.

The seasonally-adjusted jobless rate in the Euro Area hit 6.4% in November, with the number of unemployed individuals falling by 99,000 month-on-month to 10.97m. Meanwhile, the youth unemployment rate, reflecting those under 25 seeking employment, fell to 14.5% from 14.8%.

Across the major Euro economies, Spain reported the highest jobless rate at 11.9%, followed by Italy at 7.5% and France at 7.3%. On the other hand, Germany and the Netherlands reported the lowest rates at 3.1% and 3.5%, respectively.

Reporting by Iain Gilbert at Sharecast.com