The labor market recovers pre-Covid levels in the euro zone after the worst months of the stoppage or decline in economic activity due to the health crisis. The unemployment rate in the Eurozone was last November at 7.2%, one tenth less than the previous month and nine tenths below the same month of 2020. Furthermore, in the European Union as a whole, the level fell to 6.5%, two tenths less than in October and compared to 7.4% in the same month of the previous year. This unemployment figure represents the best reading of the unemployment figures in both areas since March 2020, the month in which the coronavirus pandemic broke out and in which the first lockdowns in Europe were approved.
These figures are extracted from the report published today by Eurostat, which also concludes that Spain was once again the country with the highest unemployment rate among the Twenty-seven. However, in our country, the year-on-year improvement was 2.1 points, compared to the 16.2% unemployment rate registered a year earlier. Within the European Union, the highest unemployment rates corresponded to Spain, with 14.1%, although there was a cut of three tenths less compared to October, since Greece, with 13.4%, one more tenth. In third place is Italy, with 9.2%, that is, two tenths less than the previous month. By contrast, the lowest unemployment figures were observed in the Czech Republic (2.2%), the Netherlands (2.7%) and Poland (3%)
The European statistical office estimates that 13.984 million people were without work in the EU last November. of this total, some 11,829 million unemployed reside in the euro zone. This figure represents a monthly decrease of 247,000 and 222,000 people, respectively. Compared to November 2020, the number of jobless people fell by 1.659 million in the EU and by 1.411 million in the euro zone.
Despite shelving a 30% youth employment rate, Spain was classified as the second country with the highest levels of unemployment in this age group. Specifically, 3,279 million unemployed people were registered in our country, of which 493,000 were under 25 years of age, which represents a reduction of 88,000 unemployed compared to October, including a decrease of 9,000 unemployed youth.
A) Yes, the unemployment rate among those under 25 years of age in Spain was 29.2% compared to 30.2% in October, when 502,000 people were counted without being able to access a job in this age group. This figure represents a milestone since it is about the first time youth unemployment has dropped below 30% since November 2008 In our country. Despite this, Spain remains the second state with the most youth unemployment, with a level of 29.2%. It is only surpassed by Greece, which reaches a high 39.1%. Our country is followed by Italy (28%), Sweden (24.6%) and Portugal (22%) as the states with the highest youth unemployment.
For its part, the youth unemployment rate in the euro zone in the eleventh month of the year was 15.5%, which represented a decrease of three tenths, while in the EU it stood at 15.4%, two tenths less than in October. In absolute terms, the number of unemployed young people in the EU reached 2,842 million people in November, of which 2,313 million corresponded to the Eurozone.
George is Digismak’s reported cum editor with 13 years of experience in Journalism