A report released by the Eurostat showed that in November, the unemployment rate was 6.3%, stable compared with October and in line with economists' forecasts. A year earlier, the unemployment rate was at 6.5%. Meanwhile, the EU unemployment rate was 5.9%, also stable compared with October 2024 and down from 6.1% in November 2023.
Among the largest eurozone economies, Spain continues to have the highest unemployment rate (11.2%), followed by France (7.7%) and Italy (5.7%). Conversely, Germany recorded the lowest rate at 3.4%.
Eurostat reported that in November, the number of unemployed people in the eurozone fell by 39,000 compared to October and by 333,000 in annual terms, to 10.819 million. As for the EU countries, the number of unemployed amounted to 12.968 million (-16,000 for the month and -295,000 compared to November 2023).
The data also showed that youth unemployment (under 25) in the eurozone increased by 101,000 compared to November 2023, reaching 2.423 million. In the EU, youth unemployment rose by 159,000, to 3.013 million. Meanwhile, the youth unemployment rate was 15.3% in the EU, up from 15.2% in October, and 15.0% in the eurozone, stable compared with the previous month.
In the EU, the unemployment rate for women remained at 6.1%, and the unemployment rate for men was 5.7%, also stable compared with October. In the eurozone, the unemployment rate for women was 6.5% and the unemployment rate for men was 6.1%, both stable compared with October.