Eurozone unemployment fell one tenth in August: the unemployment rate reached a historic low

The unemployment rate in the eurozone decreased by one tenth in August compared to July and stood at 6.4% in the eighth month of 2023, which is the historical minimum in the single currency club, according to published data this Monday by the community statistics office, Eurostat.

At the end of August, Eurostat had reported that unemployment had stood at 6.4% in July in the euro area, but today it revised that figure and said unemployment had been set at 6.5% in the seventh month of this year.

In the European Union (EU) as a whole, unemployment also decreased by one tenth between July and August and stood at 5.9% in the eighth month of 2023.

Spain, the State with the highest unemployment rate in 2022

Eurostat again revised data for July published at the end of August, when it reported that the unemployment rate in the seventh month was 5.9%. In year-on-year terms, unemployment fell three tenths in the euro countries between August 2022 and 2023, while in the Twenty-seven it fell two tenths.

In the case of Spain, the unemployment rate was 11.5% last August, one tenth less than in July and 1.3 points less than in the eighth month of 2022. The country's year-on-year drop was the second highest in the entire European Union, only surpassed by Greece (1.4 points less between August 2022 and 2023).

However, Spain remained the member state of the community club with the highest unemployment rate, ahead of Greece (10.9%), Estonia and Sweden (7.6% in both cases), France and Italy (7.3%). % in both countries) and Finland (7.2%).

In contrast, the lowest unemployment percentages were detected in Czechia (2.5%), Malta (2.7%), Poland (2.8%), Germany (3%), Slovenia (3.5%) and Countries Low (3.6%).

As regards unemployment among those under twenty-five years of age, it fell by one tenth in the eurozone between July and August, to 13.8%, and remained unchanged, at 14%, in the community club as a whole.

In Spain, the indicator stood at 26.8% in the eighth month of 2023, a figure lower than the 27.2% in July and 31.8% in August of last year.

Even so, it remained the EU country with the highest percentage of unemployed young people, among the Member States for which the community statistics office published data.

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