Eurozone jobless rate falls to 13-year low

Posted on January 5, 2007
Filed Under Economic/Business news, Macroeconomics |

Eurozone unemployment fell to its lowest since 1993 in November and business morale remained strong last month, data showed, pointing to healthy economic growth and boosting expectations of interest rate rises.

The jobless rate in the 12 countries that shared the euro last year fell to 7.6 percent in November, the lowest since 1993 when such measurements started, European Union statistical agency Eurostat said on Friday. Octoberâ€™s level was 7.7 percent.

The fall came in line with analyst expectations and reflected stronger labour markets in France and Germany, where the jobless rate decreased by 0.1 point to 8.6 percent and 8.0 percent respectively.

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