P. M. BRIEFING : EC Jobless Rate Hits 7-Year Low
The European Community’s unemployment rate fell to a seven-year low of 8.9% during November, EC’s statistics agency Eurostat announced today.
The decline in November--from 9% in October and 9.7% in November, 1988--put the jobless rate below 9% for the first time since 1982.
Henning Christophersen, the EC’s economic affairs commissioner, said the drop showed the investment and growth-oriented policies of the 12-nation trading bloc were working.
Eurostat said national unemployment rates either fell slightly or were unchanged in November except in West Germany and Denmark. The rise in West Germany reflected the movement of East German workers to the West seeking jobs, the statement said.
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