November 11, 2022
The euro area seasonally-adjusted unemployment rate was 7.2% in November 2021, 0.1% down compared to October 2021 7.3% and 0.9% down from 8.1% in November 2020, according to Eurostat, the statistical office of the European Union. Additionally, it was reported that, the EU unemployment rate was 6.5% in November 2021, down from 6.7% booked in October 2022 and less than November 2020 7.4%.
In the EU, there were approximately 13.984 million men and women, of whom 11.829 million in the euro area were unemployed in November 2021. Additionally, relative to October 2021, the number of persons unemployed declined by 247,000 in the EU and by 222,000 in the euro area. It was further stated that, “Compared with November 2020, unemployment decrease by 1.659 million in the EU and by 1.411 million in the euro area.”
Youth Unemployment
In November 2021, the number of unemployed young person’s (under 25 years) amounted to 2.842 million in the EU; in which approximately 2.313 million of the 2.842 million persons were in the euro area. Compared with the prior year, youth unemployment declined by 34,000 in the EU and increased by 37,000 in the euro area. Eurostat further noted, “In November 2021, the youth unemployment rate was 15.4% in the EU and 15.5% in the euro area, down from 15.6% and 15.8% respectively in the previous month.” Additionally, compared with November 2020, youth unemployment declined by 225,000 in the EU and by 188,000 in the euro area.
Unemployment by gender
In the euro area unemployment rate for women decreased from 7.7% in October 2021 to 7.5% in November 2021, while in the EU as at November 2020 was 6.8%, down from 7.0% in October 2021. The unemployment rate for men in EU as at November 2021 was 6.3%, 0.1% less compared to the previous month, while for the euro area men unemployment rate declined to 6.9% from 7.0%.
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