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- Eurozone's unemployment rate rose slightly in March
Eurozone's unemployment rate rose slightly in March
According to the report from Eurostat, in March 2020, the month when COVID-19 containment measures began to be widely introduced by Member States, the euro area seasonally-adjusted unemployment rate was 7.4%, up from 7.3% in February 2020. Economists had expected an increase to 7.7%. The EU unemployment rate was 6.6% in March 2020, up from 6.5% in February 2020.
Eurostat estimates that 14.141 million men and women in the EU, of whom 12.156 million in the euro area, were unemployed in March 2020. Compared with February 2020, the number of persons unemployed increased by 241 000 in the EU and by 197 000 in the euro area.
In March 2020, 2.763 million young persons (under 25) were unemployed in the EU, of whom 2.275 million were in the euro area. In March 2020, the youth unemployment rate was 15.2% in the EU and 15.8% in the euro area, up from 14.8% and 15.4% respectively in the previous month. Compared with February 2020, youth unemployment increased by 59 000 in the EU and by 52 000 in the euro area.
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