EU unemployment rate at lowest since January 2000

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Unemployment rate in the European Union stood at 6.3 percent in September, marking the lowest rate since 2000, the block’s statistical office said on Oct. 31.

“Compared with September 2018, unemployment fell by 889,000 in the EU28,” Eurostat said.

It was stable compared to the last month and down from 6.7 percent year-on-year.

The lowest unemployment rate was recorded in Czechia with 2.1 percent, the data showed, with Germany following it with 3.1 percent.

The highest unemployment rate, however, was observed in Greece (16.9 percent with the latest data available in July 2019). Spain came second with 14.2 percent.

In September the youth unemployment rate was 14.5 percent in the EU28, compared with 15.0 percent in the same month last year, it added.

Also, Eurostat’s preliminary flash estimate for the third quarter of 2019 showed that seasonally adjusted GDP rose by 1.4 percent in the EU28 year-on-year.

Euro area annual inflation is expected to post 0.7 percent rate in October 2019, down from 0.8 percent in September, it said.

“Looking at the main components of euro area inflation, services are expected to have the highest annual rate in October (1.6 percent, compared with 1.5 percent in September), followed by food, alcohol & tobacco (1.6 percent, stable compared with September),” it added.

Hurriyet Daily News

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