Eurozone unemployment falls to decade-low of 7.9 percent

January 09, 2019 - 6:12 am

BRUSSELS (AP) — Official figures show that unemployment across the 19-country eurozone fell in November to a decade-low rate of 7.9 percent but worries over the economic outlook have stoked concerns that it may not fall much lower.

Eurostat, the European Union's statistics agency, said Wednesday that a 90,000 monthly fall in the number out of work reduced the rate from 8 percent in October.

Bert Colijn, a senior economist at ING, said the decline was a relief as "it indicates that uncertainty about the economic outlook and a slowing pace of growth has not caused employment growth to grind to a halt just yet."

Over recent days, there's been mounting evidence that the eurozone economy lost momentum at the end of 2018, particularly in Germany.

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