The rate has never been lower since the introduction of the euro. Economists expected this on average. However, the unemployment rate for the previous month was revised upwards. It was 6.7 percent, not 6.6 percent as previously reported.
From year to year, unemployment in the common currency area fell significantly. In September 2021, the rate was still 7.3 percent. In 2021, the economy came under the burden of Corona measures. As the statistics office reported, around 10.99 million people were unemployed in the euro area in September. This was 66,000 less than the previous month and 1.07 million less than the previous year.
Of the 19 countries in the eurozone, Spain continues to have the highest unemployment rate at 12.7%. It is among the lowest in Germany and Malta, at 3.0 percent. Eurostat’s labor market data is based on the International Labor Organization (ILO) indicators. The rate in Germany is therefore significantly lower than the rate reported by the Federal Employment Agency.
(SDA)