Professional Services

Eurozone jobless figures fall

Graph, Eurozone Jobless Figure Fall - Santander UK

Unemployment in the eurozone unexpectedly fell in November. Eurostat said yesterday that unemployment had dipped to 10.5%, down from 10.6% in October 2015. The rate of joblessness is now at its lowest level for over four years, and the pool of unemployed workers is 1.57m smaller than it was a year earlier. Separately, a key measure of business confidence in the region rose in December. The Economic Sentiment Indicator, published by the European Commission, rose by 0.7 points from November to 106.8. A more marked improvement occurred across the EU as a whole, with the indicator rising by 1.4 points to 108.9. Greater confidence in the industrial sector drove the improvement, which was highest in Spain. On unemployment, regional differences in jobless rates are still pronounced. In Germany, just 4.5% of workers are without jobs, while in Greece and Spain more than a fifth of the labour market has no work. Meanwhile, retail sales figures published yesterday morning showed the seasonally adjusted volume of regional trade fell by 0.3% between November and October. It is the third month in a row the volume of retail trade has fallen.


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