Home Economy Unemployment in the Eurozone fell to 6.8% in February, in the EU – to 6.2%

Unemployment in the Eurozone fell to 6.8% in February, in the EU – to 6.2%

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Unemployment in the Eurozone fell to 6.8% in February, in the EU – to 6.2%

UNITED STATES, WASHINGTON (TRADING SIGNAL GROUP) – Unemployment in 19 eurozone countries fell to 6.8% in February 2022 from 6.9%% a month earlier, according to data from the Statistical Office of the European Union (Eurostat).

According to the revised data, in January 2022 the unemployment rate was 6.9%, not 6.8% as previously reported. Analysts on average predicted a decline to 6.7% from the previously announced level, according to Trading Economics.

In the EU, unemployment fell to 6.2% from 6.3% in January.

There were 13.267 million unemployed in the 27 EU countries in February, of which 11.155 million were in the euro area. Compared with the previous month, the number of unemployed decreased by 221 thousand in the EU and by 181 thousand in the euro area. Compared to February 2021, the number of unemployed fell by 2.568 million in the EU and by 2.150 million in the euro area.

In February, there were 2.581 million unemployed youth (under the age of 25) in the EU, of which 2.101 million were in the euro area. The youth unemployment rate in the euro area and the EU was 14.0% compared to 14.3% a month earlier.

Among the EU countries, the lowest unemployment rates in February were recorded in the Czech Republic (2.4%) and Poland (3.0%), and the highest – in Greece (11.9%) and Spain (12.6%).
In Germany, unemployment remained at 3.1% as a month earlier, in France it fell to 7.4% from 7.5%, in Italy – to 8.5% from 8.6% in January.