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Financial News: Eurozone Jobless Rate Rises For Fifth Month

Eurozone Jobless Rate Rises For Fifth Month

10/01/2020 - 05:13:00 (RTTNews)

(RTTNews) - Eurozone's unemployment rate rose for a fifth consecutive month in August, Eurostat said Thursday. The seasonally adjusted jobless rate rose to 8.1 percent from 8.0 percent in July, which was revised from 7.8 percent. The latest rate was in line with economists' expectations. The unemployment rate for EU also rose for a fifth month in a row. The rate climbed to 7.4 percent from 7.3 percent in July. There were 15.603 million unemployed persons in the EU in August, of whom 13.188 million were in the euro area, the staitstical office said. The number of unemployed increased by 238,000 in the EU, and by 251,000 in the euro area, from the previous month. The youth unemployment rate, which applies to those under 25 years of age, rose to 18.1 percent from 17.8 percent for the euro area.

The corresponding figure for EU climbed to 17.6 percent from 17.4 percent in the previous month.

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