Eurozone Unemployment Rate At Lowest In Last 12 Years

Eurozone Unemployment Rate At Lowest In Last 12 Years

The unemployment rate in the Eurozone remained at its lowest level since May 2008, remaining at 7.4 percent in January. The European Statistical Office (Eurostat) has released the unemployment data of the European Union (EU) and the Euro Area in January. Accordingly, seasonally adjusted unemployment, which was 7.4 percent in December 2019 in the 19-member Eurozone, remained unchanged in January, remaining at its lowest level since May 2008. Unemployment, which was 6.6 percent in December 2019 in the EU, remained stable in January. In January of last year, the unemployment rate stood at 6.9 percent and 7.8 percent, respectively, in the EU and the Eurozone. The number of unemployed in the EU was 14 million 86 thousand in January, of which 12 million 179 thousand were in the Eurozone. In January December 2019, the unemployment rate in the United States rose 0.1 percentage point to 3.5 percent from 3.6 percent, Eurostat reported in a press release. NUMBER OF YOUNG UNEMPLOYED IN EU RISES TO 2 MILLION 719 THOUSAND The lowest unemployment in the EU as of January was recorded in Czechia, with 2 percent. It was followed by Poland with 2.9 percent and the Netherlands with 3 percent. The country with the highest unemployment rate was measured in Greece at 16.5 percent, according to November 2019 data. Greece was followed by Spain with 13.7 percent and Italy with 9.8 percent. The number of young unemployed under the age of 25 was set at 2 million 719 thousand in the EU and 2 million 249 thousand in the Eurozone in January. The number of young unemployed in the previous month stood at 2 million 704 thousand and 2 million 241 thousand, respectively. The youth unemployment rate was thus measured at 14.9 percent in the EU and 15.6 percent in the Eurozone. The country with the highest youth unemployment rate was Greece, at 36.1 percent, according to November 2019 data. It was followed by Spain with 30.6 percent and Italy with 29.3 percent. The lowest youth unemployment was recorded in Czechia, with 5.3 percent. Czechia was followed by Germany with 5.6 percent and the Netherlands with 6.4 percent.