The eurozone unemployment rate remained stable in May compared to April, at 6.4% of the active population, its lowest level ever, according to data published Tuesday by Eurostat.
Over the year, the indicator has decreased by 0.1 points. Despite a context of economic stagnation, it is at its lowest since the European statistical office began compiling this series in April 1998 for countries that have adopted the single currency.
For the European Union as a whole, the unemployment rate remained at 6% in April, stable over a month and over a year.
The job market has generally held up well to the gloomy economic situation that has been affecting Europe since the end of 2022.
Growth is suffering from the rise in interest rates decided by the European Central Bank (ECB) to calm inflation which has soared in the wake of the war in Ukraine.
Unemployment had fallen significantly in Europe after mid-2021, thanks to the very strong economic recovery that followed the historic recession caused by the Covid-19 epidemic in 2020. The indicator has stabilized since spring 2023 at a level not seen in a quarter of a century.
Some 13.2 million people were unemployed in May in the 27 EU member states, including 11.08 million in the 20 countries sharing the single currency.
The unemployment rate stands at 7.4% in France, compared to 3.3% in Germany, according to harmonised data from Eurostat.
The lowest rates in the EU were recorded in the Czech Republic (2.7%) and Poland (3%).
The highest were recorded in Spain (11.7%) and Greece (10.6%).
Eurostat data are based on the International Labour Office (ILO) definition of unemployment.
Unemployed persons are considered to be those who have actively sought work in the previous four weeks and are available to start work within the next two weeks.
The eurozone unemployment rate remained stable in May compared to April, at 6.4% of the active population, its lowest level ever, according to data published Tuesday by Eurostat.
Over a year, the indicator has decreased by 0.1 points. Despite a context of economic stagnation, it is at its lowest since the office…
