January 11, 2020
The euro area seasonally-adjusted unemployment rate was 8.3% in November 2020, 0.1% down compared to October 2020 8.4% and greater than 7.4% recorded November 2019, according to Eurostat, the statistical office of the European Union. Additionally, it was reported that, the EU unemployment rate was 7.5% in November 2020, 0.1% down compared to October 2020 and greater than November 2019’s 6.6%.
It was reported that in the EU, there were approximately 15.933 million men and women, of whom 13.609 million in the euro area were unemployed in November 2020. Additionally, relative to October 2020, the number of persons unemployed declined by 222,000 in the EU and by 172,000 in the euro area. It was further stated that, “Compared with November 2019, unemployment rose by 1.795 million in the EU and by 1.425 million in the euro area.”
Youth Unemployment
In November 2020, the number of unemployed young person’s (under 25 years) amounted to about 3.171 million in the EU; in which approximately 2.629 million of the 3.171 million persons were in the euro area. Compared with the prior year, youth unemployment rose by 456,000 in the EU and increased by 398,000 in the euro area. Eurostat further noted, “in November 2020, the youth unemployment rate was 17.7% in the EU and 18.4% in the
euro area, up from 17.5% and 18.0% respectively in the previous month.” Additionally, compared with October 2020, youth unemployment rose by 51,000 in the EU and by 64,000 in the euro area.
Unemployment by gender
In the euro area unemployment rate for women declined from 8.9% in October to 8.8% in November 2020, while in the EU unemployment rate for women went down from 8.0% in October 2020 to 7.9% in November 2020. The unemployment rate for men in EU as at November 2020 was 7.1%, down 0.1% when compared to the previous month, while for the euro area men unemployment rate went down from 8.0% to 7.9%.
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.
