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Euro zone unemployment rate holds steady at 12.2% in September

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

In a report, Eurostat said that the euro zone's unemployment rate held steady at a seasonally adjusted 12.2% in September, confounding expectations for a decline to 12%.

The jobless rate for August was revised up to 12.2% from a previously reported 12%.

The data showed that among the Member States, the lowest unemployment rates were recorded in Austria (4.9%), Germany (5.2%) and Luxembourg (5.9%), and the highest in Greece (27.6% in July 2013) and Spain (26.6%).

Following the release of the data, the euro added to losses against the U.S. dollar, with EUR/USD shedding 0.46% to trade at 1.3673.

Meanwhile, European stock markets remained lower. The EURO STOXX 50 fell 0.1%, France's CAC 40 declined 0.1%, Germany's DAX retreated 0.3%, while London's FTSE 100 slumped 0.45%.

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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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