Eurozone Unemployment Rate at the lowest level since 2011

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Tuesday, Feb 02 2016

The euro area (EA19) seasonally-adjusted unemployment rate was 10.4% in December 2015, down from 10.5% in November 2015, and from 11.4% in December 2014. Analysts were predicting no change. This is the lowest rate recorded in the euro area since September 2011. The EU28 unemployment rate was 9.0% in December 2015, stable compared to November 2015, and down from 9.9% in December 2014. This is the lowest rate recorded in the EU28 since June 2009.

Eurostat estimates that 21.944 million men and women in the EU28, of whom 16.750 million were in the euro area, were unemployed in December 2015. Compared with November 2015, the number of persons unemployed decreased by 52 000 in the EU28 and by 49 000 in the euro area. Compared with December 2014, unemployment fell by 2.026 million in the EU28 and by 1.501 million in the euro area.

Euro is currently being traded around 1.0920 area. Pair is likely to find support around 1.0850 handle and resistance above 1.0950 level. There will be no major data releases in the rest of the session.

More in this category: « UK Construction PMI fell more than expected Australian Trade Balance deficit rose in December »

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