April 6, 2021
The euro area seasonally-adjusted unemployment rate was stable at 8.3% in February 2021, compared to January 2021 and greater than 7.3% recorded in February 2020, according to Eurostat, the statistical office of the European Union. Additionally, it was reported that, the EU unemployment rate was 7.5% in February 2021, also stable compared with January 2021 and up from 6.5% in February 2020.
It was noted that for the EU estimate, there were approximately 15.95 million men and women, of whom 13.571 million in the euro area were unemployed in February 2021. Additionally, relative to January 2021, the number of persons unemployed rose by 34,000 in the EU and by 48,000 in the euro area. It was further stated that, “compared with February 2020, unemployment rose by 1.922 million in the EU and by 1.507 million in the euro area.”
Youth Unemployment
In February 2021, the number of unemployed young person’s (under 25 years) amounted to about 2.967 million in the EU; of whom approximately 2.394 million were in the euro area. Compared with the prior year, youth unemployment rose by 230,000 in the EU and increased by 177,000 in the euro area. Eurostat further noted, “in February 2021, the youth unemployment rate was 17.2% in the EU and 17.3% in the euro area, compared with 17.4% in both areas in the previous month.” Additionally, compared with January 2021, youth unemployment decreased by 34,000 in the EU and by 9,000 in the euro area.
Unemployment by gender
In the euro area unemployment rate for women increased from 8.7% January 2021 to 8.8% in February 2021, while in the EU unemployment rate for women was unchanged at 7.9%. The unemployment rate for men in EU as at February 2021 was 7.1%, stable compared to the previous month, similar in the euro area men unemployment rate was stable at 7.9%.
Analyst Certification –The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure –The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.