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Eurozone unemployment repeats historic low of 6.6% in June

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Spain has the highest unemployment rate in the EU at 12.6%


The unemployment rate in the eurozone last June was 6.6% for the third straight month, down 1.3 percentage points from the same month in 2021 and the lowest unemployment rate among the nineteen in the entire historical series dating back to April 1998, based on Eurostat data.

This means that the unemployment rate in the euro area remains eight tenths below the level before the pandemic, because in February 2020 the unemployment rate in the euro countries was 7.4%.

Also in the European Union as a whole, the unemployment rate remained stable at 6% in June, compared to 7.2% a year earlier. It’s also the lowest unemployment rate among the 27.

The European Statistical Office estimates that in June 2022 there were 12.931 million people unemployed in the EU, of which 10.925 million were in the euro area. This corresponds to a monthly decrease of 26,000 and 25,000 people respectively.

Compared to June 2021, the number of unemployed has decreased by 2.311 million in the EU and by 1.987 million in the euro area.

Among the 27, the highest unemployment rate was in Spain at 12.6%; Greece with 12.3%; and Italy with 8.1%. In contrast, the lowest unemployment rates were observed in the Czech Republic (2.4%), Poland (2.7%) and Germany (2.8%).

For under-25s, the unemployment rate in the euro area and the EU as a whole was 13.6% in June, after 13.3% in the previous month in the EU and 13.2% in the euro area.

In absolute terms, the number of unemployed young people in the EU reached 2.546 million people in the sixth month of the year, of which 2.073 million were in the euro area.

In the case of Spain, 2.975 million people were unemployed in June 2022, of which 469,000 were under 25 years old.

For example, Spain’s youth unemployment rate was 27.9%, the second highest among the 27, behind Greece’s 29.5% and Italy’s 23.1%.

Source europapress.es

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