Eurozone November unemployment rate remains steady, in line with expectations

Eurozone unemployment rate remained steady at 9.8 percent in November, trending in line with market consensus expectations. The Euro area seasonally-adjusted unemployment rate was 9.8 percent in November 2016, stable compared to October 2016 and down from 10.5 percent in November 2015.

According to the Eurostat press release, this is the lowest rate recorded in the euro area since July 2009. The unemployment rate was 8.3 percent in November 2016, down from 8.4 percent in October 2016 and from 9.0 percent in November 2015. This is the lowest rate recorded in the EU 28 since February 2009.

These figures are published by Eurostat, the statistical office of the European Union. Eurostat estimates that 20.429 million men and women in the EU 28, of whom 15.898 million were in the euro area, were unemployed in November 2016. Compared with October 2016, the number of persons unemployed decreased by 41 000 in the EU28 and by 15 000 in the euro area. Compared with November 2015, unemployment fell by 1.552 million in the EU28 and by 972 000 in the euro area.

Meanwhile, the EUR/USD little changed following this data, down 0.19 percent at 1.0513 by 10:30 GMT. While at 10:00GMT, the FxWirePro's Hourly Euro Strength Index stood neutral at +12.30 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex