March 8, 2023

According to the statistical office of the European Union (Eurostat), the euro area seasonally-adjusted unemployment rate was 6.7% down from 6.9% in January 2023 and constant compared to December 2022. Additionally, it was reported that in EU unemployment rate was 6.1% in January 2023, also stable compared with December 2022 and down from 6.3% in January 2022. These figures are published by Eurostat, the statistical office of the European Union.

In the EU, there were approximately 13.227 million men and women, of whom 11.288 million in the euro area were unemployed in January 2023. It was further stated, “Compared with January 2022, unemployment decreased by 318 thousand in the EU and by 220 thousand in the euro area.”

Youth Unemployment

In January 2023, the number of unemployed young persons (under 25 years) amounted to 2.781 million in the EU. Of the 2.781 million, 2.286 million young persons were in the euro area. The youth unemployment rate in the EU and the euro area was 14.4% in January 2023, down from 14.5% and up from 14.3% the month before, respectively. Compared with the prior year, youth unemployment increased by 116,000 in the EU and by 112,000 in the euro area.

Unemployment by Gender

In the EU, the unemployment rate for women in January 2023 was 6.5%, remaining steady from December 2022. Men’s unemployment fell from 5.8% in December 2022 to 5.7% in January 2023. The unemployment rate for women in the euro area was 7.2%, up from 7.1% in December 2022. Men’s unemployment fell to 6.2% from 6.3% the previous month to reach this level.

Disclaimer:

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.