September 2, 2022

According to the statistical office of the European Union (Eurostat), the euro area seasonally-adjusted unemployment rate was 6.6% in July 2022, 0.1% down compared to June 2022 6.7% and 1.1% down from 7.7% in July 2021. Additionally, it was reported that, the EU unemployment rate was 6% in July 2022, down from 6.1% booked in June 2022 and less than July 2021 6.9%.

In the EU, there were approximately 12.959 million men and women, of whom 10.983 million in the euro area were unemployed in July 2022. Additionally, relative to June 2022, the number of persons unemployed declined by 113,000 in the EU and by 77,000 in the euro area. It was further stated that, “Compared with July 2021, unemployment decreased by 1.854 million in the EU and by 1.576 million in the euro area.”

Youth Unemployment

In July 2022, the number of unemployed young persons (under 25 years) amounted to 2.63 million in the EU. Of the 2.63 million, 2.173 million young persons were in the euro area. Compared with the prior year, youth unemployment declined by 329,000 in the EU and by 244,000 in the euro area. Eurostat further noted, “In July 2022, the youth unemployment rate was 14.0% in both the EU and 14.2% in the euro area, down from 14.2% and 14.4% respectively.” Additionally, compared with June 2022, youth unemployment declined by 55,000 in the EU and by 35,000 in the euro area.

Unemployment by Gender

In the euro area, unemployment rate for women was 7% in July 2022, down from the 7.1% in June 2022, while in the EU, the unemployment rate for women remained stable at 6.4% in July 2022 compared to previous month. The unemployment rate for men in the euro area and EU remained stable at 6.3% and 5.7% respectively for July 2022 relative to the previous month.

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