March 31, 2022
The euro area seasonally-adjusted unemployment rate was 6.8% in February 2022, 0.1% down compared to January 2021 6.9% and 1.4% down from 8.2% in February 2021, according to Eurostat, the statistical office of the European Union. Additionally, it was reported that, the EU unemployment rate was 6.2% in February 2022, down from 6.3% booked in January 2022 and less than February 2021 7.5%.
In the EU, there were approximately 13.267 million men and women, of whom 11.155 million in the euro area were unemployed in February 2022. Additionally, relative to January 2022, the number of persons unemployed declined by 221,000 in the EU and by 181,000 in the euro area. It was further stated that, “Compared with February 2021, unemployment decrease by 2.568 million in the EU and by 2.150 million in the euro area.”
Youth Unemployment
In February 2022, the number of unemployed young person’s (under 25 years) amounted to 2.581 million in the EU; in which approximately 2.101 million of the 2.581 million persons were in the euro area. Compared with the prior year, youth unemployment declined by 602,000 in the EU and by 512,000 in the euro area. Eurostat further noted, “In February 2022, the youth unemployment rate was 14.0% in both the EU and euro area, down from 14.3% in both areas in the previous month.” Additionally, compared with January 2022, youth unemployment declined by 38,000 in the EU and by 26,000 in the euro area.
Unemployment by gender
In the euro area unemployment rate for women remain stable at 7.2% in February 2022 compared to previous month, while in the EU the rate for woman was 6.5%, down from 6.6% in January 2022. The unemployment rate for men in EU as at February 2022 was 5.9%, 0.1% less compared to the previous month, while for the euro area men unemployment rate declined to 6.4% from 6.6%.
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