The latest Eurostat data on EU and Eurozone unemployment has shown that the overall unemployment rate has remained stable at 5.9% in August 2024. This represents an improvement of 0.1% from the previous two months and is the same as the rate recorded in August of the previous year. The Eurozone unemployment rate also remained stable at 6.4%, down 0.1% from July and August 2024, and down 0.2% from August 2023.
Spain, Greece, and Sweden have recorded the highest rates of unemployment within the Eurozone, with rates of 11.3%, 9.5%, and 8.4% respectively. On the other hand, Czechia, Poland, and Malta have the lowest rates of unemployment at 2.6%, 2.9%, and 3.0% respectively.
Youth unemployment continues to be a concern across the EU, with more than 2.7 million unemployed individuals under the age of 25 in August 2024, accounting for 14.3% of the total unemployed population. However, there has been a decrease in youth unemployment from the previous year.
When looking at unemployment by sex, it was found that there are more women unemployed in the EU compared to men, with rates of 6.1% for women and 5.7% for men. The highest rates of unemployment for women are in Greece, Spain, and Sweden.
Overall, while the stability in unemployment rates is a positive sign, there are still challenges ahead, especially in addressing youth unemployment and gender disparities in the job market.
Source
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