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Financial News: Eurozone Jobless Rate Climbs In March As Covid-19

Eurozone Jobless Rate Climbs In March As Covid-19 Lockdown Began

04/30/2020 - 05:27:00 (RTTNews)

(RTTNews) - Euro area unemployment increased in March as the lockdown triggered by the spread of the coronavirus, or Covid-19, started in several European countries by the middle of the month, preliminary figures from Eurostat showed on Thursday. The seasonally adjusted jobless rate rose to 7.4 percent from 7.3 percent in February. That was much lower than the 7.7 percent economists had forecast. In the same month of 2019, the unemployment rate was 7.7 percent. In the EU, the jobless rate climbed to 6.6 percent from 6.5 percent in the previous month. In March, 14.141 million persons were unemployed in the EU, of whom 12.156 million were in the euro area. The jobless figure rose by 197,000 persons monthly in Eurozone and by 241,000 persons in the EU. The youth unemployment rate, which applies to those in the 15-24 age group, rose to 15.8 percent in the euro area from 15.4 percent in the previous month. The number of youth unemployed rose by 52,000 persons from the previous month to 2.275 million. In whole of the EU, the youth jobless rate climbed to 15.2 percent from 14.8 percent and the corresponding figure increased by 59,000 persons to 2.763 million.

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