Eurozone unemployment rate fell slightly in October

According to the report from Eurostat, the euro area (EA19) seasonally-adjusted unemployment rate was 7.5% in October 2019, down from 7.6% in September 2019 and from 8.0% in October 2018. This is the lowest rate recorded in the euro area since July 2008.

The EU28 unemployment rate was 6.3% in October 2019, stable compared with September 2019 and down from 6.7% in October 2018. This remains the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000. 

Eurostat estimates that 15.583 million men and women in the EU28, of whom 12.334 million in the euro area, were unemployed in October 2019. Compared with September 2019, the number of persons unemployed decreased by 29 000 in the EU28 and by 31 000 in the euro area. Compared with October 2018, unemployment fell by 939 000 in the EU28 and by 761 000 in the euro area.

In October 2019, 3.240 million young persons (under 25) were unemployed in the EU28, of whom 2.261 million were in the euro area. Compared with October 2018, youth unemployment decreased by 160 000 in the EU28 and by 147 000 in the euro area. In October 2019, the youth unemployment rate was 14.4% in the EU28 and 15.6% in the euro area, compared with 15.1% and 16.7% respectively in October 2018.