Euro area unemployment rate down to 6.6% in July 2022

Eurostat estimates that 12.959 million men and women in the EU, of whom 10.983 million in the euro area, were unemployed in July 2022. Compared with June 2022, the number of persons unemployed decreased by 113,000 in the EU and by 77,000 in the euro area. Compared with July 2021, unemployment decreased by 1.854 million in the EU and by 1.576 million in the euro area.

In July 2022, the euro area seasonally adjusted unemployment rate was 6.6 per cent, down from 6.7 per cent in June 2022 and from 7.7 per cent in July 2021. The EU unemployment rate was 6 per cent in July 2022, down from 6.1 per cent in June 2022 and from 6.9 per cent in July 2021, according to Eurostat, the statistical office of the European Union.

In July 2022, 2.630 million young persons (under 25) were unemployed in the EU, of whom 2.173 million were in the euro area. In July 2022, the youth unemployment rate was 14 per cent in the EU and 14.2 per cent in the euro area, down from 14.2 per cent and 14.4 per cent respectively. Compared with June 2022, youth unemployment decreased by 55 thousand in the EU and by 35 thousand in the euro area. Compared with July 2021, youth unemployment decreased by 329 thousand in the EU and by 244 thousand in the euro area.

In July 2022, the unemployment rate for women was 6.4 per cent in the EU, stable compared with June 2022. The unemployment rate for men was 5.7 per cent in July 2022, also stable compared with the previous month. In the euro area, the unemployment rate for women decreased from 7.1 per cent in June 2022 to 7 per cent in July 2022, while the unemployment rate for men remained stable at 6.3 per cent, according to Eurostat.

Fibre2Fashion News Desk (KD)