The unemployment rate in the eurozone remained at a historically low level in June, indicating continued economic stability in the region despite global trade conflicts, the statistical agency Eurostat reported on Thursday.
In the 20 countries that use the euro, unemployment stood at 6.2% in June. The May figure was revised from 6.3% to 6.2%. Overall, the unemployment rate in the European Union also remained unchanged at 5.9%.
The number of unemployed in the eurozone fell to 10.7 million, compared with 10.76 million in May and 10.99 million a year earlier. These figures confirm that the region’s economy remains resilient and continues to grow slowly but steadily, despite the negative impact of global trade instability.
However, young people remain the most vulnerable group: the unemployment rate among those under 25 is 14.1% in the eurozone and 14.7% in the EU, almost twice the overall rate.
The most difficult situation is in Spain (24%), Greece (over 19%) and Sweden (23.7%). Gender inequality also persists: in the eurozone, unemployment among women is 6.4%, while among men it is 6.0%.
In the EU, these figures are 6.0% and 5.7% respectively.
The overall decline in unemployment has been made possible by economic stimulus measures and the recovery from the pandemic. However, high youth unemployment and significant differences between countries highlight the need for targeted employment measures and education reforms.
Although the eurozone economy faces a high degree of uncertainty, business activity and hiring intentions surveys do not give cause for pessimism. This suggests that unemployment will remain close to its current record lows. A stable labour market is supporting domestic demand, which strengthens the outlook for moderate economic growth in the coming months.
