A report released by the Eurostat showed that in August, the unemployment rate remained at 6.4%, as expected. A year earlier, the unemployment rate was at 6.6%. Meanwhile, the EU unemployment rate was 5.9% in August, down from 6.0% in July as well as in August 2023.
Among the largest eurozone economies, Spain continues to have the highest unemployment rate (11.3%), followed by France (7.5%) and Italy (6.2%). Conversely, Germany recorded the lowest rate at 3.5%.
Eurostat reported that in August, the number of unemployed persons in the eurozone decreased by 94,000 compared to July and by 233,000 in annual terms, to 10.925 million. As for the EU countries, the number of unemployed amounted to 13.027 million (-108,000 for the month and -142,000 compared to July 2023).
The data also showed that youth unemployment (under 25) in the eurozone decreased by 128,000 compared to August 2023, reaching 2.231 million. In the EU, youth unemployment decreased by 102,000, to 2.766 million. Meanwhile, the youth unemployment rate was 14.3% in the EU, down from 14.5% in July, and 14.1% in the eurozone, down from 14.2% in the previous month.
Eurostat also reported that in the EU, the unemployment rate for women remained at 6.1%, and the unemployment rate for men fell by 0.1% to 5.7%. In the eurozone, the unemployment rate for women was 6.6%, stable compared with the previous month, and the unemployment rate for men was 6.1%, down from 6.2% in July.