BRUSSELS – Unemployment in the euro area fell slightly in October, with the jobless rate slipping to 8.4% in seasonally adjusted terms from 8.5% in September, the EU's statistics agency said today.
On a 12-month basis, however, the unemployment rate was substantially higher than the 7.4% recorded in October last year as the fallout from the coronavirus takes its toll on the economy, Eurostat said in a statement.
With the pandemic dealing a devastating blow to global activity, there have been a wave of lay-offs in recent months, despite the mammoth rescue package put in place by Brussels to help keep firms afloat. – AFP, December 2, 2020
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