February 01, 2020
The euro area seasonally-adjusted unemployment rate was stable at 8.3% in December 2020, compared to November 2020 and greater than 7.4% recorded in December 2019, according to Eurostat, the statistical office of the European Union. Additionally, it was reported that, the EU unemployment rate was 7.5% in December 2020, also stable compared with November 2020 and greater than December 2019’s 6.5%.
In the reported it was noted that for EU estimate, there were approximately 16 million men and women, of whom 13.671 million in the euro area were unemployed in December 2020. Additionally, relative to November 2020, the number of persons unemployed rose by 67,000 in the EU and by 55,000 in the euro area. It was further stated that, “Compared with December 2019, unemployment rose by 1.951 million in the EU and by 1.516 million in the euro area.”
Youth Unemployment
In December 2020, the number of unemployed young person’s (under 25 years) amounted to about 3.138 million in the EU; in which approximately 2.590 million of the 3.138 million persons were in the euro area. Compared with the prior year, youth unemployment rose by 438,000 in the EU and increased by 353,000 in the euro area. Eurostat further noted, “in December 2020, the youth unemployment rate was 17.8% in the EU and 18.5% in the euro area, up from 17.5% and 18.1% respectively in the previous month.” Additionally, compared with November 2020, youth unemployment rose by 41,000 in the EU and by 36,000 in the euro area.
Unemployment by gender
In the euro area unemployment rate for women was stable at 8.8% December 2020, similarly in the EU unemployment rate for women was unchanged at 7.9% in December 2020. The unemployment rate for men in EU as at December 2020 was 7.1%, stable compared to the previous month, while for the euro area men unemployment rate went up from 7.8% to 7.9%.
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