Eurozone unemployment holds steady at record low

(Sharecast News) - Unemployment in the eurozone held steady a record low for the third straight month in October, according to figures out on Monday from Eurostat. The jobless rate stood at 6.3% in October, in line with readings for September and August and matching economists' predictions.

According to Eurostat, some 10.84m people across the single-currency regions were unemployed during the month, down 3,000 from the month before.

However, youth unemployment rose slightly, 35,000 additional people under the age of 25 estimated as jobless in October, moving the unemployment rate up to 15.0% from 14.9%.

Among member states, Spain continues to see the highest rate of unemployment at 11.2%, unchanged from the previous month, while Greek unemployment rose to 9.8% from 9.4%. The eurozone countries with the lowest rate was Malta at 3.0% and Germany at 3.4% - both unchanged from September.