After the morning’s publication of the European PMI came time for the October publication of euro area labor market. Eurostat reports that the seasonally adjusted unemployment rate in October was 9.8%.
Today’s publication continues good streak on European labor market. Compared to September of this year we recorded a decrease of 0.1 percentage points. (9.8% from 9.9% recorded in September), while the annual intake shows an even better view – exactly one year ago, the unemployment rate in Eurozone reached up to 10.6%.
The highest unemployment in countries across the Union has Greece (23.4%) and Spain (19.2%). Least unemployed is at the while in the Czech Republic and Germany. Poland, with a 5.7% unemployment rate still ranks below the European average:
Today’s data are clearly positive – the European average unemployment rate was at its lowest level since February 2009.
Reach to the source and read the entire report by Eurostat – now available on your mailbox service through FxWatcher!
Reaction on EUR/USD started before the publication of the report of Eurostat. Currently pair corrects earlier gains, stopping at the local level of support:
