Unemployment in the eurozone has fallen to a historic low

In September, the eurozone showed a historically low unemployment rate, reaching 6.3%. 

Unemployment was previously reported at 6.4% in August, but after revision, this figure was adjusted to 6.3%, which exceeded analysts' forecasts. In comparison with the same period last year (September 2023), there is a decrease in the unemployment rate — from 6.6% to current values.

Despite the positive dynamics of unemployment, the total number of unemployed in the eurozone increased by 13 thousand compared to August, reaching more than 10 million people.

The unemployment rate among young people (under 25 years old) continues to grow — the indicator reached 14%, exceeding the August figures by 0.1%.

Germany has the lowest unemployment rate among the major eurozone countries — 3.5%, as in the previous month. In France, unemployment reached 7.6%, while in Italy it remained stable at 6.1%. But Spain has the highest rate, which decreased by 0.1 percentage points and remains at 11.2%.

In general, the unemployment rate in the European Union remained stable at 5.9% in September, corresponding to the indicator in August.