21:35 GMT +305 December 2019
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    People queue outside an unemployment registry office in Madrid. (File)

    Eurozone Unemployment Rate at Record Nine-Year Low

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    The EU economy appears to be displaying signs of recovery as the number of jobless across the Eurozone steadily decreases, nearly approaching pre-crisis levels.

    The chief statistical agency of the European Commission has revealed that the Eurozone’s unemployment rate, which hit 8.7 percent in November, is now at its lowest since January 2009.

    According to a Eurostat report cited by media outlets, the number of unemployed has receded all across Europe, including countries like Greece and Portugal that were severely affected by the debt crisis.

    ​However, the Financial Times points out that comparing figures from individual countries reveals significant divergences: Germany and Malta, for example, boast a mere 3.6 percent unemployment rate; Italy and Cyprus have an 11 percent unemployment; and Greece displays a joblessness rate of 20.5 percent.

    Earlier, data firm IHS Markit reported that business activity in Eurozone surged in December, boosted by “strong factory output and an upturn in the service sector."


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    recovery, economy, unemployment rate, Europe
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