European Union unemployment rate rose to 7.5% in Dec 2020

The EU unemployment rate in December 2020 had increased to 7.5 per cent, remaining largely stable compared to the previous month

The European Union's (EU) unemployment rate in December 2020 had increased to 7.5 per cent, remaining largely stable compared to the previous month, amid the ongoing Covid-19 pandemic, according to official figures.

The figures issued by Eurostat on Monday revealed that around 16 million people in the EU, of which over 13 million in the eurozone, were unemployed in December 2020, a month-on-month increase of 67,000 in the EU and 55,000 in the eurozone, respectively.

he statistical office said the unemployment rate in December stood at 7.5 per cent in the EU and 8.3 per cent in the eurozone, remaining largely stable compared with November, but up from 6.5 per cent and 7.4 per cent, respectively, in December 2019, reports Xinhua news agency.

Compared with December 2019, the number of unemployed people rose by nearly two million in the EU and by 1.5 million in the eurozone.

According to Eurostat's figures, slightly more than three million young persons under the age of 25 were unemployed in the EU, of whom 2.6 million were in the eurozone.

In December 2020, the youth unemployment rate was 17.8 per cent in the EU and 18.5 per cent in the eurozone, up from 17.5 per cent and 18.1 per cent, respectively, in the previous month.

Compared with November 2020, youth unemployment increased by 41,000 in the EU and by 36,000 in the eurozone.

The year-on-year increase was 438,000 in the EU and 353,000 in the eurozone.

--IANS

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