The eurozone unemployment rate fell to a new low of 6.4% in November. Compared with October 2023, the number of unemployed decreased by 99,000. Although the eurozone has been going through a soft patch with year-on-year GDP growth in the third quarter, and likely also in the fourth quarter, close to zero, this has not had any impact on the unemployment rate, which has fallen over the year. There have been several explanations for this. The economic weakness has been predominantly in the manufacturing sector, while the more labour-intensive services sector has fared better. On top of that, there has been a preference ... (full story)