Eurozone Unemployment Rate fell to 10.7%

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Tuesday, Dec 01 2015

The euro area (EA19) seasonally-adjusted unemployment rate was 10.7% in October 2015, down from 10.8% in September 2015, and from 11.5% in October 2014. No change was expected.This is the lowest rate recorded in the euro area since January 2012. The EU28 unemployment rate was 9.3% in October 2015, stable compared to September 2015, and down from 10.1% in October 2014. This is the lowest rate recorded in the EU28 since September 2009.

Earlier today, German Unemployment Change figures were released. The jobless rate fell to 6.3% in November, the lowest level since German reunification, from 6.4% the previous month, data from the Federal Labor Agency in Nuremberg showed on Tuesday. The number of people out of work declined a seasonally adjusted 13,000 to 2.77 million. Economists predicted the rate would remain unchanged and the number of jobless would decline by 5,000.

Euro is currently being traded around 1.0580 area. Pair is likely to find support around 1.0560 handle and resistance above 1.0630 level. Later today, in the US session, Manufacturing PMI figures are scheduled for a release.

More in this category: « UK Manufacturing PMI fell to 52.7 in November ISM Manufacturing PMI below 50 level »

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