Eurozone October Unemployment Rate at 6.5%... Below Expectations

European Union flag / Photo by EPA Yonhap News

[Asia Economy Reporter Noh Kyung-jo] Eurostat, the statistical office of the European Union (EU), announced on the 1st that the unemployment rate in the Eurozone was recorded at 6.5% in October. This is below the market forecast of 6.6%.

By country, Spain (12.5%) and Greece (11.6%) had high unemployment rates, while Germany had the lowest unemployment rate among Eurozone countries at 3.0%.

The Eurozone refers to the 19 countries out of the 27 EU member states that use the euro as their sole currency. Eight countries, including Denmark, Sweden, and the Czech Republic, are not part of the Eurozone.