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BRUSSELS, Belgium -- Unemployment in the 12 nations using the euro held at 7.8 percent in September, the level it has been at for the past five months, the EU statistics agency Eurostat said Friday. The jobless rate was 8.5 percent a year ago. Euro-zone unemployment is at its lowest level since the EU's statistical agency Eurostat started keeping records for the currency area in October 1998. Unemployment in all 25 EU nations was 8 percent, holding steady from August.
Eurostat estimates that 11.5 million people were looking for work in the euro zone and 17.4 million in the entire EU.Although the jobless rate in Europe has been falling as the economy picks up, it is far higher than other world economies -- partly a result of European labor laws that can make it more costly to hire and fire.
In September, the United States reported 4.6 percent and Japan 4.2 percent. On Friday, the U.S. Labor Department reported the U.S. unemployment rate dropped to 4.4 percent in October, a five-year low.
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