Eurozone unemployment falls to record lows in December 2021

On April 27, 2016, people will enter a government-run job center in Madrid, Spain. (Andrea Comas / Reuters)

Brussels-Eurozone unemployment fell to record lows in December, data showed on Tuesday. This demonstrates the strength of the economic recovery and the effectiveness of the part-time labor plans used to maintain employment during the pandemic blockade.

According to the European Union Statistics Bureau Eurostat, the unemployment rate of the 19 countries that share the euro has dropped from a revised 7.1% in November to 7.0% of the workforce. This is the lowest rate since the measurement started in April 1998.

Economists surveyed by Reuters expected an unemployment rate of 7.1%. According to Eurostat, the unemployment rate in the euro area in December was 11,481 million, a decrease of 185,000 from November.

Record low unemployment may be a factor in addition to the already high inflationary pressures caused by supply chain bottlenecks as the global economy recovers sharply from the recession caused by the coronavirus pandemic. ..