November 3, 2021

According to Eurostat, the statistical office of the European Union, the euro area seasonally-adjusted unemployment rate was 7.4% in September 2021, down 0.1% when compared to August 2021 8.6% and less than September 2020 8.6%. Additionally, it was reported that, the EU unemployment rate was 6.7%, lower that August 2021 6.9% and September 2020 7.7%.

In the EU, there were approximately 14.324 million men and women, of whom 12.079 million in the euro area were unemployed in September 2021. Additionally, relative to August 2021, the number of persons unemployed declined by 306,000 in the EU and by 255,000 in the euro area. It was further stated that, “compared with September 2020, unemployment decreased by 2.054 million in the EU and by 1.919 million in the euro area.”

Youth Unemployment

In September 2021, the number of unemployed young person’s (under 25 years) were estimated to be 2.815 million in the EU; in which approximately 2.307 million persons are located in the euro area. In comparison with the prior year, youth unemployment declined by 375,000 in the EU and by 348,000 in the euro area. Compared to August 2021, youth unemployment fell by 45 000 in the EU and by 38 000 in the euro area. Eurostat further noted, “in September 2021, the youth unemployment rate was 15.9% in the EU and 16.0% in the euro area, down from 16.1% and 16.3% respectively in the previous month.”

Unemployment by gender

In the euro area unemployment rate for women decreased from 7.9% in August 2021 to 7.7% in September 2021, while in the EU in September 2021 women unemployment rate was 7.0%, down from 7.2% in August 2021. The unemployment rate for men in the euro area as at September 2021 was 7.1% (7.2%), reflecting a 0.1% decrease compared to the previous month, while in the EU men unemployment rate decreased from 6.6% to 6.5% in September.

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.