Unemployment in the eurozone fell back to a record low of 6.4 per cent in November, defying recent economic gloom after the number of jobless people fell almost 100,000 from a month earlier.
The continued strength of Europe’s labour market will add to caution among European Central Bank policymakers about the timing of a potential cut in interest rates as they worry that rapid wage growth could keep price pressures elevated.
The region’s job market is proving more resilient than expected by economists, who had forecast an unchanged unemployment rate for November of 6.5 per cent in a recent Reuters poll.
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