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%.

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