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7/1/2021, 11:00 AM (Source: TeleTrader)
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Euro area unemployment rate at 7.9% in May

The seasonally-adjusted unemployment rate in the euro area decreased by 0.2 percentage points when compared to the previous month standing at 7.9% and beating market expectations, the European Union's statistical office Eurostat unveiled on Thursday.

At the same time, in the EU the figure also saw a monthly decline falling from 7.4% to 7.3%. According to Eurostat, around 15.28 million people are unemployed in the EU, with 12.79 million people residing in the Eurozone. Comparing these numbers to the previous month, they fell by 382,000 and 306,000 respectively.

On an annual level, the unemployment rate increased by 0.4 percentage points in both the EU and the euro area, constituting a respective increase of unemployed people by 949,000 and 803,000.

Baha Breaking News (BBN) / OL