November 2, 2020
The euro area seasonally-adjusted unemployment rate was 8.3% in September 2020, stable when compare to August 2020 and greater than the 7.5% in September 2019, according to Eurostat, the statistical office of the European Union. Additionally, it was reported that, the EU unemployment rate was 7.5% in September 2020, stable compared with August 2020 and greater than September 2019’s 6.6%.
In the EU, there were approximately 15.99 million men and women, of whom 13.61 million in the euro area were unemployed in September 2020. Additionally, relative to August 2020, the number of persons unemployed rose by 42,000 in the EU and by 75,000 in the euro area. It was further stated that, “compared with September 2019, unemployment rose by 1.81 million in the EU and by 1.38 million in the euro area.”
Youth Unemployment
In September 2020, the number of unemployed young person’s (under 25 years) amounted to about 3 million in the EU. Approximately 2.45 million of the 3 million persons were in the euro area. Compared with the prior year, youth unemployment fell by 97,000 in the EU and decreased by 77,000 in the euro area. Eurostat noted, “this decrease should be interpreted with caution: it might be explained by some young persons not actively seeking employment until the situation improves in the labour market.” Eurostat further noted, “in September 2020, the youth unemployment rate was 17.1% in the EU and 17.6% in the euro area, down from 17.8% and 18.3% respectively in the previous month.” Additionally, compared with September 2019, youth unemployment rose by 259,000 in the EU and by 202,000 in the euro area.
Unemployment by gender
In the euro area unemployment rate for women increased from 8.8% in August to 8.9% in September 2020, while in the EU as at September 2020 it was 7.9%, stable when compared to August 2020. The unemployment rate for men in EU as at September 2020 was 7.1%, also stable when compared to the previous month, while the rate for euro area unemployment rate decreased from 7.9% in August 2020 to 7.8% in September 2020.
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