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Financial News: Eurozone Jobless Rate Remains Stable In December

Eurozone Jobless Rate Remains Stable In December

02/01/2021 - 05:46:00 (RTTNews)

(RTTNews) - The euro area unemployment rate remained stable in December despite restrictions imposed to curb the spread of Covid-19, data from Eurostat revealed on Monday.

The jobless rate came in at 8.3 percent, unchanged from November and in line with economists' expectations.

The number of unemployed increased by 55,000 from November. Unemployment totaled 13.671 million in December. Compared with December 2019, unemployment rose 1.516 million.

The unemployment rate among youth aged below 25 rose to 18.5 percent from 18.1 percent a month ago.

The jobless rate in the EU27 also held steady at 7.5 percent in December.

The data once again highlight the extent to which government policies have protected jobs during the pandemic, Jessica Hinds, an economist at Capital Economics, said. And as this support will continue for some months yet, the risk of a surge in unemployment in 2021 is low.

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