Eurozone unemployment stagnates at 10.2 per cent

Unemployment in the eurozone remained unchanged in April at 10.2 per cent, its lowest level in nearly five years, new data released on Tuesday showed.

The European currency union has made some progress in whittling down its jobless rate since it hit a record 12.1 per cent in 2013, but many still consider it to be unacceptably high.

The number of people out of work in the eurozone did decrease by 63,000 from March to April, but the drop was not enough to alter the unemployment rate, the EU statistics agency Eurostat said. Analysts had expected it to remain unchanged.

The seasonally adjusted jobless rate is now at its lowest level since August 2011.

A total of 16.4 million people were out of work in the 19-country eurozone in April. Just under 3 million of them were under the age of 25, leading to a youth unemployment rate of 21.1 per cent.

The Czech Republic, Germany and Malta recorded the lowest jobless rates, with overall unemployment at around 4 per cent and youth unemployment ranging from 7 to 9.5 per cent.

Greece and Spain, meanwhile, continued to report the highest figures, with overall unemployment over 20 per cent and youth unemployment over 45 per cent.

In the wider 28-country European Union, unemployment dropped in April to 8.7 per cent, its lowest level in seven years. More than 21 million people were out of work in the bloc, 4.2 million of them under the age of 25.

Last update: Fri, 24/06/2016 - 08:49

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