The unemployment rate in the Eurozone was 6.5%. The index has fallen to a record low level in the history of its calculations. In September 2022, the unemployment rate was 6.6%. Analysts had expected the unemployment rate to remain at the September level of 6.6%, according to Trading Economics.

Eurozone unemployment fell to 6.0% from 6.1% a month earlier. There were 12.953 million unemployed in the 27 EU countries in October, of which 10.872 million were in the eurozone. Compared to October 2021, the number of unemployed fell by 1.158 million in the EU and 1.053 million in the euro area.

In October, there were 2.872 million unemployed young people (under 25 years of age) in the EU, of which 2.326 million were in the euro area. The youth unemployment rate in the EU and the euro area was 15.1% compared to 15.2% (EU) and 15% compared to 15.2% a month earlier (euro area). In the U.S., the situation is similar, which puts pressure on stock markets and in particular on NVIDIA stock prices today. 

Among EU countries the lowest unemployment rate in October was registered in Czech Republic (2.1%), Poland and Germany (3.0%), Malta (3.1%) and the highest in Greece (11.6%) and Spain (12.5%).

In France, unemployment remained at 7.1% and in Italy dropped to 7.8% from 7.9% in September.

Earlier, we reported that the Chinese stock market closed in the negative amid protests in China.