Eurozone unemployment rate unexpectedly fell in December

According to the report from Eurostat, the euro area (EA19) seasonally-adjusted unemployment rate was 7.4% in December 2019, down from 7.5% in November 2019 and from 7.8% in December 2018. This is the lowest rate recorded in the euro area since May 2008. The EU28 unemployment rate was 6.2% in December 2019, down from 6.3% in November 2019 and from 6.6% in December 2018. This is the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000.

Eurostat estimates that 15.475 million men and women in the EU28, of whom 12.251 million in the euro area, were unemployed in December 2019. Compared with November 2019, the number of persons unemployed decreased by 80 000 in the EU28 and by 34 000 in the euro area. Compared with December 2018, unemployment fell by 747 000 in the EU28 and by 592 000 in the euro area. Member States

In December 2019, 3.155 million young persons (under 25) were unemployed in the EU28, of whom 2.213 million were in the euro area. Compared with December 2018, youth unemployment decreased by 143 000 in the EU28 and by 129 000 in the euro area. In December 2019, the youth unemployment rate was 14.1% in the EU28 and 15.3% in the euro area, compared with 14.6% and 16.2% respectively in December 2018.