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Euro zone unemployment rate holds steady at 12.1% in November

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Investing.com - The euro zone's unemployment rate held steady just below a record-high in November, underlining concerns over the impact of the region's debt crisis on growth, official data showed on Wednesday.

In a report, Eurostat said that the euro zone's unemployment rate held steady at a seasonally adjusted 12.1% in November, in line with expectations and unchanged from October.

The data showed that among the member states, the lowest unemployment rates were recorded in Austria (4.8%), Germany (5.2%) and Luxembourg (6.1%), and the highest in Greece (27.4% in September 2013) and Spain (26.7%).

Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.07% to trade at 1.3606.

Meanwhile, European stock markets were lower. The EURO STOXX 50 fell 0.1%, France's CAC 40 dipped 0.25%, Germany's DAX inched down 0.2%, while the FTSE 100 declined 0.4%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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