Eurostat: a new drop in the unemployment rate in the eurozone
Cairo – Gateway to the Center | Tuesday 11 January 2022, 02:00 pm
The logo of the European Statistics Office «Eurostat». (Internet)
The European Union’s statistical office “Eurostat” confirmed that the unemployment rate in the euro area continued to decline in November, affecting 7.2% of the working population, following it reached 7.3% of them in October and 7.4% in September, according to Agence France-Presse.
The recovery of the European economy since the spring, following the setback caused by the “Covid-19” epidemic, led to an improvement in the labor market. For the European Union as a whole, unemployment fell by 0.2 points in November compared to the previous month and stood at 6.5%, according to Eurostat.
In November, regarding 13.98 million men and women became unemployed in the European Union, including 11.83 million in 19 countries sharing the same currency, and the improvement is evident over a year. Unemployment affected 8.1% of the working population in the Eurozone in November 2020 and 7.4% in the European Union. But since November 2020, unemployment has fallen by 1.66 million people in the European Union and 1.41 million in the eurozone.
The improvement became more visible among the young people (under 25 years old), who were the most prominent victims last year of restrictive measures that have crippled entire sectors of the economy. Their unemployment rate fell 0.3 points in the euro zone in November of the previous month, to 15.5%, following it was 18% in November 2020.
This downward trend in unemployment has been able to withstand a new outbreak of mutant deltas in countries such as Germany, the Netherlands and Belgium, suggesting that government decisions to reduce restrictions have helped preserve their economies.
Many countries are trying a similar approach in their response to the highly contagious omicron, even as daily infection rates rise to unprecedented levels across Europe.
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