The number of unemployed people in the euro area remains stable, according to the latest data

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The latest data set on unemployment rates in the EU and Eurozone has been released, showing that unemployment rates are currently stable.

The EU unemployment rate is 5.9% as of August 2024, with more than 13 million people unemployed across the region.

It improved by 0.1% in June and July from 5.9%, the same as in August last year.

High unemployment rates in Greece, Spain and Sweden

Within the eurozone, the unemployment rate was 6.4% in August, down only 0.1% from July and August 2024 and 0.2% from August 2023, according to data from Eurostat.

Approximately 11 million people are currently unemployed in the 20-nation eurozone. Statistics for August 2023 show that the number of unemployed people across the EU fell by 142,000, and in the euro area by 233,000.

The highest unemployment rates are in Spain (11.3%), Greece (9.5%) and Sweden (8.4%). The lowest rates were in the Czech Republic (2.6%), Poland (2.9%) and Malta (3.0%).

Youth unemployment rates across the EU remain a concern

According to the dataset, there will still be more than 2.7 million unemployed people under the age of 25 in the EU in August 2024, representing 14.3% of the EU.

However, compared to July 2024, the youth unemployment rate has decreased by about 50,000 people, and compared to August last year, it has decreased by 102,000 people.

The lowest percentages are in Spain (24.7%), Sweden (23.8%) and Estonia (22.7%).

Germany fared best, with 6.8% of young people unemployed, followed by Malta and the Netherlands (8.9% each).

Unemployment rate by gender: Unemployment rate is higher for women than men

In the EU, more women are unemployed than men: 6.1% versus 5.7%. The unemployment rate for men has decreased by 5.8% since July, while the trend for women has remained stable.

The peak unemployment rates for women are in Greece (11.6%), Spain (12.8%) and Sweden (8.4%).