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Home >> Business
UPDATED: 10:17, January 06, 2007
Euro-zone jobless rate lowest in November
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The euro-zone unemployment dropped to 7.6 percent in November last year, the lowest level on record, the Eurostat, the European Union's statistics office, said on Friday.

The jobless rate, adjusted for seasonal factors, was slightly down from 7.7 percent of the previous month. It was much lower than 8.4 percent registered in the same period of 2005, and the lowest since 1993 when such measurements started.

Among the 12 nations sharing the same currency, the Netherlands recorded the lowest rate of 3.8 percent, while Greece's unemployment in the third quarter of 2006, standing at 8.7 percent, was the highest, followed by France and Spain at 8.6 percent and 8. 4 percent respectively.

In the 25-nation EU, unemployment rate also declined to 7.7 percent in November, compared to 7.8 percent of October. It was 8. 6 percent in November 2005.

On yearly basis, twenty EU member states recorded a fall in their unemployment rate, while three reported increase, namely the United Kingdom, Luxembourg and Hungary.

There were 11.2 million people unemployed in the euro zone and 16.9 million in the whole EU in November 2006, the Eurostat estimated.

For comparison, the jobless rate of the United States was 4.5 percent in November last year and Japan 4.0 percent.

Source: Xinhua


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