Compared to July, the number of persons unemployed was up by 238,000 in the EU and by 251,000 in the euro area. Unemployment Rate in European Union averaged 9.16 percent from 2000 until 2020, reaching an all time high of 11.50 percent in February of 2013 and a record low of 6.50 percent in December of 2019. The unemployment rate … In the euro area, the unemployment rate for women increased from 8.3 % in July 2020 to 8.4 % in August 2020 while it increased from 7.8 % to 7.9 % for men. As part of the flagship initiatives, 'An agenda for new skills and jobs' and 'Youth on the move', (youth) unemployment rates will be targeted via by a range of policies, including proposals aimed at education and training institutions, or measures for the creation of a (work) environment conducive to higher activity rates and higher labour productivity. The current account balance of Cyprus in the second quarter of 2020 recorded an improvement. In 2019, one year before COVID-19 unemployment rates continued to vary widely across the EU’s 27 member states. Unemployment in Cyprus fell to 6.9% in July 2020 – 7.4% for males and 6.3% for females, from 7.1% in June, or down from 33.000 to 31.000 individuals. There are monthly estimates for all EU Member States. The unemployment rate is an important indicator with both social and economic dimensions. The euro area unemployment rate was up … The same trend has applied to the EU unemployment rate that reached 7.4% in August 2020. Express. Unemployment rate forecast is defined as the projected value for the number of unemployed people as a percentage of the labour force, where the latter consists of the unemployed plus those in paid or self-employment. In Greece unemployment increased to 17.0% in May 2020 (latest available data), from 15.7% in April 2020 and 17.2% in July 2019. Compared with July 2020, the number of persons unemployed increased by 238 000 in the EU and by 251 000 in the euro area. An unemployed person is defined by Eurostat, according to the guidelines of the International Labour Organization, as someone aged 15 to 74 without work during the reference week who is available to start work within the next two weeks and who has actively sought employment at some time during the last four weeks. The unemployment rate is considered to be a lagging indicator. The Euro Area seasonally-adjusted unemployment rate increased to 8.1 percent in August 2020 from an upwardly revised 8 percent in the previous month and matching market expectations. order back issues and use the historic Daily Express This page has been accessed 1,581,370 times. However, in the second quarter of 2020 youth unemployment was 24.5%, with 38,000 young jobless. The unemployment rate for men was 7.1 % in August 2020, stable compared with July 2020. newspaper archive. The unemployment rate for men was 7.1 % in August 2020, stable compared with July 2020. It was the highest jobless rate since July 2018, as the coronavirus pandemic hit the labour market. Compared to August last year, the number of young persons unemployed went up by 37,000 in the EU and by 29,000 in the euro area. The seasonally-adjusted unemployment rate in the euro area was 7.9% in July 2020, up from 7.7% in June 2020, and EU unemployment rate was 7.2% in July 2020, up from 7.1% in June 2020, according to figures published by Eurostat today. Finally, the general public might also be interested in changes in unemployment. A year earlier the rate was 7.0%. Eurostat, the European Union’s official statistical office, estimated the bloc-wide unemployment rate to be 6.6 percent in April, up from 6.4 percent in March. Some economists expect the unemployment rate to double to 8% by year end. The unemployment rate for men was 7.0% in July 2020, up from 6.8% in June 2020. A … This article presents the very latest unemployment figures for the European Union (EU), the euro area and individual Member States. Croatia does not provide monthly data on youth unemployment. Croatia’s unemployment rate closer to euro area average. To capture in full the unprecedented labour market situation triggered by the COVID-19 outbreak, the data on unemployment have been complemented by additional indicators, e.g. Eurostat estimates that … In August 2020, the unemployment rate for women was 7.6 % in the EU, up from 7.5 % in July 2020. The seasonally-adjusted unemployment rate in Croatia was 8.3% in August 2020, down 0.1 pp compared to July. Unemployment by gender. MUST READ: Eurozone crisis: EU economy set for worse recession than predicted. The seasonally-adjusted EU unemployment rate increased to 7.4% in August 2020, up from 7.3% in July 2020 and 6.6% in August 2019. Unemployment Rate in European Union increased to 7.40 percent in August from 7.30 percent in July of 2020. In the euro area, the youth unemployment rate was 18.1% in August 2020, up by 0.3 pp compared to July and by 2.6 pp on the year. In August 2020, the unemployment rate for women was 7.6 % in the EU, up from 7.5 % in July 2020. Member States may publish other rates such as register-based unemployment rates, or rates based on the national LFS or corresponding surveys. There are also initiatives aimed at improving the entry rate of young people into the labour market. In the euro area, the unemployment rate for women increased from 8.0% in June 2020 to 8.3% in July 2020 while for men it increased from 7.5% to 7.6%. Data released earlier today by Germany, showed unemployment in the EU’s largest economy rose to 6.1 percent in May. The number of unemployed persons rose by 251 thousand to 13.188 million, despite temporary government job … These series are then seasonally adjusted and all the national and European aggregates are calculated. Download the app to your phone to stay up to date with all the latest developments with the reliable reporting of the Phileleftheros Media Group. Euro area unemployment at 8.1 % in August 2020. The indicators on Labour market slack – annual statistics on unmet needs for employment supplement the unemployment rate to provide a more complete picture of the labour market. For Belgium, Bulgaria, Cyprus, Ireland, Spain, France, Croatia, Lithuania, Latvia, Luxembourg, Malta, Poland, Slovenia and Slovakia: quarterly data up and including Q2 2020. The COVID-19 outbreak and the measures applied to combat it have triggered a sharp increase in the number of claims for unemployment benefits across the EU. For Greece: monthly data up to and including June 2020. Figures for Greece have not been made available for March and April but are expected to be much worse than the 35.6 percent youth unemployment rate registered in February. The following LFS data are used in the calculations of the monthly unemployment rates published in this article: Monthly unemployment and employment series are calculated first at the level of four categories for each Member State (males and females 15-24 years, males and females 25-74 years). In August 2020, the youth unemployment rate was 17.6 % in the EU and 18.1 % in the euro area, up from 17.4 % and 17.8 % respectively in the previous month. DON'T MISS'Brussels IS the problem' EU warned of 'moral hazard' [INSIGHT]Pound to euro exchange rate: Sterling ‘trades in tight range’ [FORECAST]EU rejects UK's financial demands as Brexit talks hit new red line row [INSIGHT]. In a letter to British Foreign Secretary Dominic Raab, a group of 25 Cypriot expatriates condemned as “irresponsible and inhuman” the Turkish “aggressive action”... Sheftalies, a very tasty dish from the charcoal grill, are minced meat shaped into small sausages and wrapped in “panna” (suet). It also increased by 2.8 pp compared to August last year. It estimated that 14.079 million people across the EU are unemployed in April, an increase of 397,000 on the previous month. France and Italy have scrapped bans on internal travel and are hoping to lift restrictions on movement to and from other Schengen Zone countries in the coming days. A total of 15.603 million persons were unemployed in the EU in August, of which 13.188 million were in the euro area. Youth unemployment is more severe in some Eurozone countries, with Spain’s figure hitting 33.2 percent in April. The time series on unemployment are used by the European Commission, other public institutions, and the media as an economic indicator; banks may use the data for business cycle analysis. Capital Economics' Chief Europe Economist … The International Labour Organization definition of the unemployment rate is the most widely used labour market indicator because of its international comparability and relatively timely availability. Of course, data won’t be satisfactory either at the end of 2020 due to the spread of coronavirus that has highly affected the economy and the labor market. For the wider European Union, the unemployment rate hit 6.6% in April 2020, up from 6.4% in March 2020. These results are interpolated/extrapolated to monthly data using national survey data and/or national monthly series on registered unemployment. In August 2020, 3.032 million young persons (under 25) were unemployed in the EU, of whom 2.460 million were in the euro area. From an economic perspective, unemployment may be viewed as unused labour capacity. In August 2020, there were 152,000 jobless persons in Croatia, which is 1,000 fewer than in July, but 35,000 more than in August last year. on employment, labour market slack – annual statistics on unmet needs for employment, when LFS data for the first quarter of 2020 have been published. It was up 5.8 percent from the previous month. In August 2020, a total of 3.032 million young persons (under 25) were unemployed in the EU, including 2.46 million in the euro area.