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- Eurozone's unemployment rate rose slightly in May
Eurozone's unemployment rate rose slightly in May
According to the report from Eurostat, in May 2020, a third month marked by COVID-19 containment measures in most Member States, the euro area seasonally-adjusted unemployment rate was 7.4%, up from 7.3% in April 2020. Economists had expected an increase to 7.7%. The EU unemployment rate was 6.7% in May 2020, up from 6.6% in April 2020.
Eurostat estimates that 14.366 million men and women in the EU, of whom 12.146 million in the euro area, were unemployed in May 2020. Compared with April 2020, the number of persons unemployed increased by 253 000 in the EU and by 159 000 in the euro area.
In May 2020, 2.815 million young persons (under 25) were unemployed in the EU, of whom 2.267 million were in the euro area. In May 2020, the youth unemployment rate was 15.7% in the EU and 16.0% in the euro area, up from 15.4% and 15.7% respectively in the previous month. Compared with April 2020, youth unemployment increased by 64 000 in the EU and by 42 000 in the euro area.
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