Eurozone Unemployment Remains Unchanged in October

The seasonally adjusted unemployment rate in the euro area stood at 6.3% in October, unchanged from last month's reading, according to Eurostat's latest report issued on Monday. This marks a 0.3 percentage point decrease on an annual basis.

In the entire European Union, the unemployment rate stood at 5.9% in October, stable compared to the September's figure and 0.2 percentage points down from October 2023. Spain had the highest unemployment rate among EU member states at 11.2%, followed by Greece at 9.8% and Finland and Sweden, both at 8.5%. Meanwhile, the countries with the lowest unemployment rate were Czechia with 2.6% and Malta with 3%, followed by Poland with 3.1%.

The report showed that 12.971 million people were unemployed in the European Union in October, of which 10.841 were in the Eurozone.