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Euro Area Unemployment Hits All-Time Low

In November, unemployment in the Euro area reached its record low, defying concerns that the 20-nation bloc had fallen into a recession during the latter half of the previous year.

According to Eurostat's Tuesday report, the unemployment rate decreased to 6.4% from October's 6.5%. This represents nearly 11 million individuals unemployed in an area with a population exceeding 300 million. Our take: Although the ECB does not have a dual mandate, current numbers do not support the aggressive rate cut pricing.


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