Euro-Area Unemployment Rate Drops to Lowest Level Since 2009
- Joblessness fell to 8.7%, matching economist estimate
- Unemployment among young people declined to 18.2% in November
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Joblessness in the euro area declined to the lowest level since early 2009, raising the prospect of a tighter jobs market finally putting the upward pressure on wages keenly anticipated by the European Central Bank.
The unemployment rate dropped to 8.7 percent in November from 8.8 percent the previous month, according to a report from Eurostat on Tuesday. The reading matches the median of 34 estimates in a Bloomberg survey.