Home >Politics >Policy >Eurozone unemployment rate falls

The jobless rate in the eurozone continued to decline in August as the reopening after the easing of pandemic-related restrictions fueled a strong economic recovery over the summer.

The eurozone jobless rate fell to 7.5% in August from 7.6% in July, data from the European Union’s statistics agency, Eurostat, showed Thursday.

The reading matches forecasts from economists polled by The Wall Street Journal.

The number of people classified as unemployed in the eurozone decreased by 261,000 in August compared with the previous month, to 12.2 million, the agency said.

The youth unemployment rate--among people under 25--fell to 16.4% in August from 16.7% in July, Eurostat said.

People categorized as unemployed don’t include those who weren’t free to look for work, the statistics agency said, citing the example of parents who had to take on childcare duties.

The data also don’t include workers classed under furlough programs as unemployed. These programs, which have limited the effect of the pandemic on the region’s labor market, cover a large proportion of wages of workers employed by businesses that have had to cut back on their activities as a result of the Covid-19 pandemic.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Edit Profile
My ReadsRedeem a Gift CardLogout