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Euro area's unemployment rate down to 6.5% in Mar 2023

05 May '23
2 min read
Pic: Shutterstock/Liftwood
Pic: Shutterstock/Liftwood

Insights

  • The seasonally adjusted unemployment rate in the euro area was 6.5 per cent in March 2023, down from 6.6 per cent in February 2023 and 6.8 per cent in March 2022.
  • The EU's unemployment rate was 6.0 per cent in March 2023, stable compared to February 2023 and down from 6.2 per cent in March 2022.
  • In the EU, there were around 12.96 million unemployed persons.
In March 2023, the euro area’s seasonally adjusted unemployment rate was 6.5 per cent, down from 6.6 per cent in February 2023 and from 6.8 per cent in March 2022. The European Union’s (EU) unemployment rate was 6.0 per cent in March 2023, stable compared with February 2023 and down from 6.2 per cent in March 2022.

Around 12.960 million persons in the EU, of whom 11.010 million were from the euro area, were unemployed in March 2023. Compared with February 2023, unemployment decreased by 155,000 in the EU and by 121,000 in the euro area. Compared with March 2022, unemployment decreased by 353,000 in the EU and by 365,000 in the euro area, according to figures published by Eurostat, the statistical office of the EU.

In March 2023, 2.763 million young persons (under 25) were unemployed in the EU, of whom 2.264 million were in the euro area. In March 2023, the youth unemployment rate was 14.3 per cent both in the EU and in the euro area, down from respectively 14.5 per cent and 14.4 per cent in the previous month. Compared with February 2023, youth unemployment decreased by 33,000 in the EU and by 14,000 in the euro area. Compared with March 2022, youth unemployment increased by 105,000 in the EU and by 91,000 in the euro area.

In March 2023, the unemployment rate for women was 6.3 per cent in the EU, down from 6.4 per cent in February 2023. The unemployment rate for men was 5.6 per cent in March 2023, down from 5.7 per cent in the previous month. In the euro area, the unemployment rate for women was 7.0 per cent, down from 7.1 per cent in February 2023. The unemployment rate for men was 6.1 per cent, stable compared with the previous month.

ALCHEMPro News Desk (NB)

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