September 2, 2020
1 min read

Unemployment on the rise in Eurozone

Eurozone.

 

The unemployment rate in the 19-member Eurozone area continued to spike in July, a month marked by relaxation of some COVID-19 containment measures in many European Union (EU) member states, according to official figures.

The figures released by Eurostat, the statistical office of the EU, on Tuesday, showed the seasonally-adjusted unemployment rate in the area was 7.9 percent in July, up from 7.7 percent the previous month, Xinhua news agency reported.

The unemployment rate in the whole EU area was 7.2 percent in July, higher than 7.1 percent in June, it added.

Among some 15.2 million unemployed in the EU, 2.9 million were aged under 25.

The youth unemployment rate was 17 percent in the EU and 17.3 percent in the euro area, up from 16.9 percent and 17.2 percent respectively in June, showing continued deterioration of the employment situation.

Among EU member states, the lowest unemployment rates in July were recorded in the Czech Republic at 2.7 percent, followed by Poland at 3.2 percent.

The highest unemployment rates were recorded in Spain at 15.8 percent, followed by Italy at 9.7 percent.

Also Read: India’s Economy Shrinks by 23.9%

Also Read: Japan’s economy shrinks a record 27.8%

BRUSSELS, Dec. 13, 2018 (Xinhua) -- French President Emmanuel Macron speaks to media upon his arrival at a two-day EU Summit in Brussels, Belgium, Dec. 13, 2018. (Xinhua/Ye Pingfan/IANS) by .
Previous Story

Macron arrives in Iraq

Baby. (File Photo: IANS) by .
Next Story

Expect Your Baby With Proper Plans

Latest from Economy

Mali embraces solar power for rural areas  

The border village of Karan and its 3,000 people used to go days without electricity. Now, enough power is available around the clock to run small video gaming centers and boost commercial

Trump administration to formally end USAID 

The move will fully absorb all remaining USAID functions into the State Department effective July 1, and according to a reduction in force notice to remaining staff, will “obviate” the need for

IMF Backs Pakistan with $1.3B Aid

The new deal comes with an agreement on the first review of the ongoing $7 billion bailout programme…reports Asian Lite News The International Monetary Fund (IMF) has finalized a staff-level agreement with

Pay Hike for Ministers, Struggles for Citizens

Sharif has been calling on Pakistanis to tighten their expenditures due to excessive taxes, asserting that it is a recovery phase for the country….writes Hamza Ameer The Shehbaz Sharif-led Pakistani government, which
Go toTop