A first in history! Unemployment figures for the Eurozone released

The European Statistical Office (Eurostat) has released labor force data for the European Union (EU) and the Eurozone for April.

Accordingly, the seasonally adjusted unemployment rate in the Eurozone, which was 6.5 percent in March, fell to 6.4 percent in April, reaching its lowest level since the creation of the common currency.

In the EU, the unemployment rate, which was calculated at 6 percent in March, remained stable in April.

The unemployment rate was measured at 6.5 percent in the Eurozone and 6 percent in the EU during the same period last year.

The number of unemployed people in the EU was 13 million 149 thousand in April. 10 million 998 thousand of the unemployed were in the Eurozone.

Meanwhile, regional unemployment, which peaked during the Eurozone crisis in 2013, rose above 12 percent but had declined steadily before experiencing a short-term increase during the COVID-19 pandemic.

UNEMPLOYMENT FIGURES

While unemployment remains high in Spain and Greece, Germany stood out as the country with the lowest unemployment rate in both the EU and the Eurozone.

As of March, the lowest unemployment rate in the EU was recorded in Czechia at 2.7 percent. The country with the highest unemployment rate was Spain at 11.7 percent. Spain was followed by Greece with 10.8 percent.

The number of unemployed youth under the age of 25 was calculated at 2 million 830 thousand in the EU and 2 million 272 thousand in the Eurozone in April.

Thus, the youth unemployment rate fell from 14.7 percent to 14.4 percent in the EU and from 14.3 percent to 14.1 percent in the Eurozone in April.

The country with the highest youth unemployment rate was Spain at 26.5 percent. This country was followed by Greece with 22.6 percent and Slovakia with 20.8 percent.

The lowest youth unemployment was recorded in Germany at 5.8 percent.

News Source: AA