The euro area unemployment rate dropped marginally in October, data from Eurostat revealed on Wednesday.
The jobless rate fell to 8.4 percent from 8.5 percent in the previous month. The rate came in line with economists’ expectations.
Data showed that unemployment in the currency bloc decreased by 86,000 from the previous month. On a yearly basis, unemployment was up by 1.692 million.
Meanwhile, the youth unemployment rate rose to 18.0 percent in October from 17.9 percent a month ago.
In the EU27, the overall jobless rate held steady at seasonally adjusted 7.6 percent in October.
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