Brussels: Unemployment in the eurozone has fallen below the symbolic mark of 10 percent for the first time since April 2011, EU data showed yesterday.
The fall is a welcome boost to the European economy, which is muddling through a slow recovery from the eurozone debt crisis and faces new problems such as Brexit and the rise of political populism. The data showed that unemployment in the 19-nation eurozone fell below the 10-percent mark in September. In October the jobless rate fell further to 9.8 percent, the lowest level in seven years.
Countries facing key elections performed well, with unemployment in Italy falling to 11.6 percent just days ahead of a referendum that could decide the fate of Prime Minister Matteo Renzi.
A second consecutive fall in France left the rate at 9.7 percent, a significant development ahead of presidential elections next year that could see the rise of the far-right candidate Marine Le Pen.
As usual one of the lowest jobless rates was in powerhouse Germany, at 4.1 percent, while the highest rates were in debt-laden Greece at 23.4 percent and Spain with 19.2 percent.
By headcount, there were some 15.9 million people without jobs in the eurozone in October, down 190,000 from September and 1.8 million fewer compared with October 2015.
Unemployment in the full 28-nation EU fell to 8.3 percent in October from 8.4 percent in September, hitting levels last seen in February 2009, Eurostat said.
