Euro area unemployment to fall below 10% to 9.9% in October – RBC CM

With the exception of just one month, April 2011, the monthly euro area unemployment rate has been above 10% since August 2009, notes Research Team at RBC Capital Markets.

Key Quotes

“Though the labour market continues to improve and the number of unemployed is down by just over three million since its peak in April 2013, progress remains slow. October, however, should see the rate finally fall below 10% to 9.9%, a level from which it should continue to come down slowly over coming months.”