The unemployment rate in the eurozone stood at 6.8% for the third consecutive month last April, which is 1.4 percentage points lower than the same month in 2021 and represents the lowest level of unemployment among the nineteen in the entire historical series, the pre-April period. 1998, according to Eurostat data.
The unemployment rate in the eurozone thus remains six tenths below pre-pandemic levels, as unemployment in euro countries stood at 7.4% in February 2020.
Similarly, across the EU, the unemployment rate held steady at 6.2% in April, compared to 7.5% a year earlier. It is also the lowest level of unemployment in twenty-seven.
The European Statistics Office estimated that 13.264 million people were unemployed in the EU in April 2022, of which 11.181 million were in the euro area. This represents a monthly shortfall of 89,000 and 96,000 people, respectively.
Compared to April 2021, the number of unemployed people in the EU declined by 2.543 million and in the euro area by 2.175 million.
At twenty-seven, the highest unemployment rate was in line with Spain with 13.3%; Greece, with 12.7%; and Italy, with 8.4%. In contrast, the lowest unemployment figures were seen in the Czech Republic (2.4%), Germany and Poland (both with 3%).
In the case of those under the age of 25, the unemployment rate in the euro area and EU was 13.9% in March, compared to 14% in the previous month.
In absolute terms, the number of unemployed youth in the EU reached 2.6 million people in the fourth month of the year, of which 2.122 million corresponded to the Eurozone.
In the case of Spain, 3.113 million people were unemployed in April 2022, of whom 471,000 were under the age of 25.
Thus, Spain had a youth unemployment rate of 28.9%, the second highest among the twenty-seven, ahead of Greece at 36.8% and Italy at 23.8%.
Spain continues to lead unemployment in the EU while the eurozone average is at a 1998 low