September 5, 2023

According to the statistical office of the European Union (Eurostat), the euro area seasonally adjusted unemployment rate was 6.4% in July, down from 6.7% in July 2022 and constant compared with June 2023. Additionally, it was reported that the EU unemployment rate was 5.9% in July 2023, also stable compared with June 2023 and down from 6.1% in July 2022.

In the EU, there were approximately 12.928 people, of whom 10.944 million in the euro area were unemployed in July 2023. Notably, unemployment increased by 35 thousand in the EU and 73 thousand in the euro area in comparison with data reported in June 2023.

Youth Unemployment

In July 2023, the number of unemployed young persons (under 25 years) amounted to 2.683 million in the EU. Of the 2.681 million, 2.206 million young persons were in the euro area. The youth unemployment rate in the EU was 13.9% in July 2023, down from 14.2% in June 2023. In the euro area, the youth unemployment rate was 13.8%, constant compared with June 2023. Compared with the prior year, youth unemployment decreased by 85,000 in the EU and by 80,000 in the euro area.

Unemployment by Gender

In the EU, the unemployment rate for women in July 2023 was 6.2%, remaining unchanged from June 2023. The Men’s unemployment rate was 5.7% in July 2023, also stable compared to June 2023. The unemployment rate for women in the euro area was 6.8%, up from 6.7% in June 2022. Men’s unemployment grew from 6.1% in June 2023 to 6.2% in June 2023.

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