Euro area unemployment rate stays unchanged at 8.3% in December as expected

• Unemployment Rate in the euro area remained steady in December as expected.
• EUR/USD pair continues to push lower, trades below 1.2100.

The seasonally adjusted Unemployment Rate in the euro area stayed unchanged at 8.3% in December, the data published by the Eurostat showed on Monday. This reading came in line with market expectation.

Further details of the publication revealed that the EU Unemployment Rate in the same period was 7.5%. 

"Eurostat estimates that 16.000 million men and women in the EU, of whom 13.671 million in the euro area, were
unemployed in December 2020," the press release read. "Compared with December 2019, unemployment rose by 1.951
million in the EU and by 1.516 million in the euro area."

Market reaction

The EUR/USD pair continues to edge lower after this report and was last seen losing 0.4% on the day at 1.2088.