Tuesday, 02 January 2024 12:17 GMT

Eurozone Unemployment Rate Holds at 6.3 Percent in April


(MENAFN) The eurozone's unemployment rate remained locked at 6.3% in April, Eurostat reported Monday — holding steady from a year earlier and falling short of market expectations that had anticipated a dip to 6.2%.

Across the broader European Union, joblessness similarly held firm at 6%, unchanged both month-on-month and compared with April 2025.

In raw numbers, Eurostat estimated that 13.24 million people across the EU were without work in April, of whom 11.08 million resided in the euro area. On a monthly basis, the figures did edge lower — unemployment fell by 137,000 across the EU and by 84,000 within the euro area compared with March. However, zooming out tells a more concerning story: on an annual basis, unemployment actually climbed by 82,000 across the EU and by 45,000 in the euro area.

Youth unemployment offered one of the report's brighter signals. The number of EU residents under 25 without work stood at 2.91 million in April — including 2.34 million in the euro area — with the youth jobless rate dropping to 15.1% across the EU from 15.6% in March. The euro area's youth rate similarly eased, falling to 14.7% from 15.1%. Month-on-month, youth unemployment declined by 91,000 across the EU and by 50,000 in the euro area.

Gender-disaggregated data revealed modest but consistent progress for women. The female unemployment rate across the EU slipped to 6.2% in April from 6.3% in March, while in the euro area it declined to 6.5% from 6.6%. The rate for men held steady at 5.8% across the EU, while edging down marginally to 6% in the euro area from 6.1% the previous month.

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