Eurozone unemployment rate steady at 6.4%

Photo credit: Pixabay

The eurozone unemployment rate held steady at a record low in May, data published by Eurostat, the statistical office of the European Union, showed on Tuesday, WAM reports. 

The jobless rate came in at seasonally adjusted 6.4 percent, which was unchanged from April and matched expectations, German news agency, dpa, reported.

The unemployment rate was 6.5 percent in May 2023. There were 11.078 million unemployed people in May. Compared with April, unemployment increased sharply by 38,000 but rose only 3,000 from the prior year.

The jobless rate among young persons aged below 25 years was unchanged at 14.2 percent in May. Data showed that the overall unemployment rate in the EU27 also remained unchanged in May, at 6.0 percent, while the youth jobless rate dropped slightly to 14.4 percent from 14.5 percent.

Currently reading