Investing.com – The euro zone’s unemployment rate rose unexpectedly in September, official data showed on Monday.
In a report, Eurostat said that the euro zone’s unemployment rate rose to a seasonally adjusted 10.2% in September, disappointing expectations for a decline to 10.0%.
The previous month’s figure was revised to 10.1% from a previously reported 10.0%.
According to the data, the number of unemployed people in the euro zone was 23.26 million in September, of whom 16.19 million were in the euro area.
Compared with August, the number of persons unemployed increased by 174,000 in the EU27 and by 188,000 in the euro area.
Among euro zone member states, the lowest unemployment rates were recorded in Austria and the Netherlands, while Spain and Greece recorded the highest rates.
Following the release of the data, the euro held on to sharp losses against the U.S. dollar, with EUR/USD tumbling 1.15% to trade at 1.3985.
Meanwhile, European stock markets were broadly lower. The EURO STOXX 50 tumbled 1.8%, France’s CAC 40 dropped 1.95%, the FTSE 100 slumped 1.05%, while Germany's DAX fell 1.6%.
In a report, Eurostat said that the euro zone’s unemployment rate rose to a seasonally adjusted 10.2% in September, disappointing expectations for a decline to 10.0%.
The previous month’s figure was revised to 10.1% from a previously reported 10.0%.
According to the data, the number of unemployed people in the euro zone was 23.26 million in September, of whom 16.19 million were in the euro area.
Compared with August, the number of persons unemployed increased by 174,000 in the EU27 and by 188,000 in the euro area.
Among euro zone member states, the lowest unemployment rates were recorded in Austria and the Netherlands, while Spain and Greece recorded the highest rates.
Following the release of the data, the euro held on to sharp losses against the U.S. dollar, with EUR/USD tumbling 1.15% to trade at 1.3985.
Meanwhile, European stock markets were broadly lower. The EURO STOXX 50 tumbled 1.8%, France’s CAC 40 dropped 1.95%, the FTSE 100 slumped 1.05%, while Germany's DAX fell 1.6%.