EU unemployment rate at lowest since January 2000

Unemployment rate in the European Union stood at 6.3% in September, marking the lowest rate since 2000, the block's statistical office said on Thursday.

"Compared with September 2018, unemployment fell by 889,000 in the EU28," Eurostat said.

It was stable compared to the last month and down from 6.7% year-on-year.

The lowest unemployment rate was recorded in Czechia with 2.1%, the data showed, with Germany following it with 3.1%.

The highest unemployment rate, however, was observed in Greece (16.9% with the latest data available in July 2019). Spain came second with 14.2%.

In September the youth unemployment rate was 14.5% in the EU28, compared with 15.0% in the same month last year, it added.

Also, Eurostat's preliminary flash estimate for the third quarter of 2019 showed that seasonally adjusted GDP rose by 1.4% in the EU28 year-on-year.

Euro area annual inflation is expected to post 0.7% rate in October 2019, down from 0.8% in September, it said.

"Looking at the main components of euro area inflation, services are expected to have the highest annual rate in October (1.6%, compared with 1.5% in September), followed by food, alcohol tobacco (1.6%, stable compared with September)," it added.