The Eurozone unemployment rate reached a 10-year low in November 2018, according to Eurostat data. The European Union’s (EU) statistical office said the Eurozone unemployment fell to 7.9% in November, which is the lowest level since October 2008 and below economic forecasts of 8.1%. the figure is also 0.8% less than the same month of 2017 when statistics reported a level of 8.7%.

When it comes to the EU as a whole, the November 2018 figure is 6.7%, or 0.6% less than in November 2017. This is the lowest level of unemployment in the EU since the beginning of the unemployment statistics that began in 2000.

Eurostat estimates that 16.491 million people in the EU, of which 13.040 million people in the Eurozone, were unemployed last November.

Compared to October 2018, the number of unemployed citizens decreased by 107,000 in the EU and by 90,000 within the Eurozone. Compared to November 2017, the unemployment rate decreased by 1.489 million people for the EU and by 1.135 million people for the Eurozone.

Among the member states, the lowest unemployment rates in November 2018 were recorded in the Czech Republic (1.9%), Germany (3.3%) and the Netherlands (3.5%). Highest figures were recorded in Greece (18.6% in September) and Spain (14.7%).

Compared to a year earlier, unemployment rates for all EU Member States except Estonia remain stable.

The largest decrease was recorded in Croatia (from 10% to 7.8%), Greece (from 20.8% to 18.6%) and Spain (from 16.5% to 14.7%).

In November 2018, 3.444 million young people under 25 were unemployed in the EU, with 2.452 million people of them within the Eurozone. Compared to November 2017, youth unemployment declined by 189,000 for the EU and 90,000 for the Eurozone.

In November 2018, the youth unemployment rate was 15.2% for the EU and 16.9% for the Eurozone, which is also a decrease compared to November 2017, when this figure for the EU and the euro area was 16.1% and 17.8%.

In November 2018, the lowest levels of youth unemployment were seen in the Czech Republic (4.9%), Germany (6.1%) and the Netherlands (6.9%), and the highest values in Greece (36, 6%), Spain (34.1%) and Italy (31.6%).