Financial News: Eurozone Unemployment Rate Steady At 6.4%

Eurozone Unemployment Rate Steady At 6.4%

07/02/2024 - 05:54:00 (RTTNews)

(RTTNews) - The euro area unemployment rate held steady at a record low in May, data published by Eurostat showed on Tuesday.

The jobless rate came in at seasonally adjusted 6.4 percent, which was unchanged from April and matched expectations. The unemployment rate was 6.5 percent in May 2023.

There were 11.078 million unemployed people in May. Compared with April, unemployment increased sharply by 38,000 but rose only 3,000 from the prior year.

The jobless rate among young persons aged below 25 years was unchanged at 14.2 percent in May.

Data showed that the overall unemployment rate in the EU27 also remained unchanged in May, at 6.0 percent, while the youth jobless rate dropped slightly to 14.4 percent from 14.5 percent.

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