The eurozone saw its unemployment rate fall to a record low 6.4% in November, as the number of jobless individuals decreased by nearly 100,000 from the previous month. This resilience of the labor market has made the European Central Bank cautious about deciding on a potential interest rate cut, due to fear of rapid wage growth causing higher price pressures. The eurozone’s robust job market is defying economists’ expectations, and the continued strength in the labour market could make an impact on inflation. The number of jobless individuals in the eurozone fell to 10.97mn, with Italy seeing the most notable improvement - the ranks of its unemployed fell by 66,000 to a little over 1.9mn in November. Economists, however, predict this year’s unemployment rate will rise due to sluggish growth and weak demand. The unemployment rate has decreased significantly since its peak at 12% in 2013. The economic outlook for the eurozone in the fourth quarter remains weak.