June 2, 2021

The euro area seasonally-adjusted unemployment rate decreased by 0.2% to 7.9% in May 2021, compared to 8.1% in April 2021 and greater than 7.5% recorded in May 2020, according to Eurostat, the statistical office of the European Union. Additionally, it was reported that, “The EU unemployment rate was 7.3% in May 2021, down from 7.4% in April 2021 and up from 6.9% in May 2020.”

The Eurostat estimated number of unemployed persons in the EU is approximately 15.28 million men and women, of whom 12.79 million in the euro area were unemployed in May 2021. Additionally, relative to April 2021, the number of persons unemployed decreased by 382,000 in the EU and by 306,000 in the euro area. It was further stated that, “compared with May 2020, unemployment rose by 949 000 in the EU and by 803 000 million in the euro area.”

Youth Unemployment

In May 2021, the number of unemployed young persons (under 25 years) amounted to about 2.979 million in the EU; of whom approximately 2.403 million were in the euro area. Compared with the prior year, youth unemployment declined by 174,000 in the EU and by 138,000 in the euro area. Eurostat also noted, “In May 2021, the youth unemployment rate was 17.3% in the EU and 17.5% in the euro area, down from 18.2% and 18.4% respectively in the previous month.” Additionally, compared with May 2021, youth unemployment increased by 119,000 in the EU and by 70,000 in the euro area.

Unemployment by gender

In the euro area unemployment rate for women fell from 8.3% in April 2021 to 8.5% in April 2021, while in the EU unemployment rate for women decreased to 7.6% in May 2021 from 7.8% in March 2021. The unemployment rate for men in EU as at May 2021 was 7.0%, 0.1% less than the previous month, similar in the euro area men unemployment rate was 0.2% down to 7.6%.

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