The latest data released by Eurostat shows that the eurozone unemployment rate remained stable at 6.4% in the months of June, July, and August. This was a decrease of 0.2% compared to the same period last year. Despite this stability, Greece, Spain, and Sweden continue to have the highest rates of unemployment within the eurozone.
Across the entire EU, the unemployment rate was 5.9% in August 2024, with over 13 million people without jobs. This was a slight improvement from June and July, where the rate also stood at 5.9%. In terms of youth unemployment, there were still over 2.7 million unemployed individuals under the age of 25 in the EU, accounting for 14.3% of the bloc. Spain, Sweden, and Estonia had the highest rates of youth unemployment.
When broken down by gender, the data shows that there are more unemployed women in the EU compared to men. Women had an unemployment rate of 6.1% while men’s rate was slightly lower at 5.7%. The unemployment rates for women were highest in Greece, Spain, and Sweden.
Overall, while the eurozone and EU unemployment rates have stabilized, there are still millions of people without jobs, especially among young people and women. Policymakers will need to continue to monitor the situation and implement strategies to address unemployment disparities across the region.
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