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Unemployment in the euro area fell to 8.3 percent in November |  Tyrolean daily newspaper online

Unemployment in the euro area fell to 8.3 percent in November | Tyrolean daily newspaper online

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Luxembourg, Vienna – The labor market situation in the euro zone hardly changed in November 2020 compared to the previous month. The seasonally adjusted unemployment rate fell by 0.1 percentage points to 8.3 percent compared to October, the Eurostat statistics office announced on Wednesday. In November 2019 it was 7.4 percent. In the European Union as a whole, the rate was 7.5 percent – 0.1 percentage points less than in the previous month, 1.1 percentage points more than in the same month last year.

In November 2020, 15.933 million men and women were unemployed in the EU, 13.609 million of them in the euro area. Compared with October 2020, the number of unemployed fell by 222,000 in the EU and by 172,000 in the euro area. Compared with November 2019, the number of unemployed increased by 1.795 million in the EU and by 1.425 million in the euro area.

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According to the international survey method, the lowest unemployment rate in the EU was recorded in the Czech Republic with 2.9 percent, and the highest in Spain with 16.4 percent. Austria – once the EU front runner – was in the upper midfield with 5.2 percent. No data were available for Estonia, Greece and Hungary.

The effects of the corona crisis on the labor market have so far remained within limits in view of the severe economic slump. The short-time working instrument used in many countries also plays a role here. However, the corona crisis has worsened again since November and restrictions on public life have been decided again. (APA)

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