The unemployment rate in the Eurozone in November stood at 7.5%, in line with estimates. This minimum level was reached in June 2019.
We would have to go back to June 2008 to find a similar rate.
Analysts at Bankinter noted that Europe has a solid labor market and predictably the improvement in GDP in the coming quarters will allow the level of unemployment to be gradually reduced, although it will do so slowly. They expect the unemployment rate to close at 7.4% in 2020 and 7.3% in 2021.