Wednesday, May 31, 2023

Eurozone unemployment marks a new all-time low of 6.5%, with Spain as the leader with 12.8%

Another month, there Work market in the eurozone will continue to show signs of a remarkable resistance face the economic slowdown caused by the war in Ukraine, rising inflation and rising interest rates. Eurozone unemployment rate marked a New all-time low in March falls to 6.5%one tenth less than in February and three tenths less than a year ago. This is the lowest figure since the creation of the euro.

In the series of The European Union, the unemployment level remained stable in March at 6% compared to February. In March 2022, the rate stood at 6.2%, according to data published this Wednesday by Eurostat, statistical office of the European Union.

Again, Spain remains the absolute leader in unemployment in the euro area and in the European Unionand a percentage of 12.8% which doubles the community average. Our country continues to be a red light in the classification despite the fact that the level of unemployment has decreased by one tenth compared to February and by four tenths in the last year.

Unemployment rate in EU countries in March 2023

After Spain, the EU countries with the highest unemployment are Greece (10.9%), Italy (7.8%), Sweden (7.3%) and Portugal (6.9%). In it extreme opposite at the table, Czech Republic (2.6%), Poland (2.8%) and Germany (2.8%) They are the member states with the lowest unemployment and record figures that are usually considered “full technical employment”.

Eurostat estimates that 12.9 million people in the entire European Union (which is 11 million dollars in the eurozone) were unemployed in March 2023. In our country, the number of unemployed stands at 3 million, which means that one out of four unemployed in the euro area is in Spain.

Compared to February, the unemployment rate fell by 155,000 people in the European Union and by 121,000 people in the eurozone. Compared to March 2022, the drop in the amount of 353,000 people in the European Union and 365,000 people in the euro area.

For his part, The youth unemployment rate fell to 14.3% in March both in the euro area and in the European Union as a whole, compared to the 14.5 and 14.4% (respectively) recorded in February.

Spain is also the leader in the European Union in terms of unemployment among people under the age of 25 (29.5%)., a figure that again doubles the Community average. Compared to February, the rate dropped by four tenths, but if compared to March 2022, youth unemployment rose by one tenth in our country. Behind Spain is Greece (24.2%) and Italy (22.3%).

The Member States with the lowest unemployment among under-25s are Germany (5.6%), Austria (7.6%) and the Netherlands (8%).

World Nation News Desk
World Nation News Desk
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