Eurozone Unemployment Rate Hits a Record 11.6%

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By Trey Thoelcke Published
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The EU statistics agency Eurostat reports that the unemployment rate in the eurozone climbed to a record 11.6% in September. That was up from the 11.5% reported for August, and exceeded the 11.5% estimate of economists surveyed by Dow Jones Newswires.

Some 146,000 were added to the number of the jobless in the eurozone, bringing the total to 18.49 million in September.

Spain’s unemployment rate was the highest in the eurozone. The number of jobless rose to 25.8% of the workforce in September from 25.5% the month before. The unemployment rate in Greece exceeded 25% as well. The eurozone’s biggest economy, Germany, has one of the lowest unemployment rates at 5.4%.

Youth unemployment across the eurozone also increased. Eurostat placed the rate at 23.3% in September, compared with 23% in the previous month. But in Spain, youth unemployment rose to 54.2% from 53.8% in August.

The September unemployment rate in the United States was 7.8%. The Bureau of Labor Statistics is scheduled to report its October update on Friday.

The Eurostat press release is available here.

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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