Euro zone unemployment remained stable at 11-year highs in October but September jobless numbers were higher than previously reported, showing the labour market has yet to feel the effects of a nascent economic recovery.
Unemployment in the 16-country area totalled 9.8 per cent of the workforce, unchanged from September's upwardly revised reading, the European Union statistics agency said.
It was the highest unemployment rate since the 9.9 per cent registered in October 1998, Eurostat said.
Economists polled by Reuters had on average expected a 9.8 per cent rate in October against 9.7 per cent for September.
A total of 15.567 million people were unemployed in the euro area in October, up by 134,000 against September.
In the whole European Union of 27 member states, the unemployment rate rose to 9.3 per cent from 9.2 per cent in September. This meant 22.510 million people were out of a job, 258,000 more than in September.
In France, the euro zone's second-biggest economy, unemployment rose to 10.1 per cent from 10.0 per cent. In Italy, the third-biggest, the figure increased to 8.0 percent from 7.8 per cent and in Spain, to 19.3 from 19.1 per cent.
In Germany, the region's biggest economy, joblessness fell to 7.5 per cent from 7.6 per cent.
Unemployment is a lagging indicator, slow to react to economic developments. Analysts expect it to peak around 11 per cent next year and have said it will remain a drag on the economy as joblessness dampens wage growth, curbing demand.
Reuters