Europe Achieves Record Low Unemployment Rate in Modern Era (Communities - News & Events)
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Europe Achieves Record Low Unemployment Rate in Modern Era | |
European nations are currently experiencing a notable turn of events, much like stumbling upon an unexpected windfall. That’s likely the sentiment some European nations are experiencing now, thanks to the eurozone’s recent revelation of better-than-expected employment figures. The eurozone, comprising EU countries that use the Euro as their primary currency, reported a remarkable drop in the unemployment rate to 6.4% in November, marking a record low seen only once since the 2008 Great Recession, according to Eurostat. Greece (9.4% down from 11.9%) and Spain (11.9% down from 12.9%) led the pack with the biggest year-over-year declines in unemployment. However, amid the positive news, economic experts caution against unfettered optimism. Some European companies retained more employees than necessary last year, leading to concerns about low productivity. Melanie Debono, an economist at Pantheon Macroeconomics consulting firm, noted that surveys indicate declining hiring intentions, particularly in the manufacturing sector, where firms are considering layoffs due to bleak sectoral outlooks. For more details please visit our website - https://hrviews.com/2024/07/16/europe-achieves-record-low-unemployment-rate-in-modern-era/  | |
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2025-11-22 (0.570 sec)