Unemployment in Eurozone hits historic low in December
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Official figures show that Europe is beginning to shrug off the spread of the Omicron variant, with the jobless rate standing at an all-time low.
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The jobless rate for those under 25 fell to an all-time low of 14.9%
The eurozone's jobless rate fell to a new low in December, according to official figures.
It seems Europe may be recovering from the effects of the spread of COVID-19's omicron variant, with hiring making a solid recovery as the seasonally-adjusted unemployment rate stood at 7% in December. This number is the lowest since the official Eurostat statistics agency began its records in April 1998.
Eurostat revealed that almost 13.6 million people were left unemployed in the EU in December, 11.5 million of which were in the eurozone. The year-on-year improvement showed a drop from 7.5%, meaning 1.8 million fewer people were seeking work.
The change in numbers is attributed to the radical change with which the EU tackled the pandemic, agreeing on a spending push instead of the austerity path it had chosen between 2010 and 2015.
