Economy: Eurostat, COVID-19 crisis hitting jobs. Growing unemployment among young people and women

In July 2020, “a month marked by some relaxation of COVID-19 containment measures in many Member States”, the euro area seasonally-adjusted unemployment rate was 7.9%, compared to 7.7% in June 2020. The EU unemployment rate was 7.2% in July 2020, up from 7.1% in June 2020. These figures are published by Eurostat, the statistical office of the European Union. Eurostat estimates that 15.184 million men and women in the EU were unemployed in July 2020. Compared with June 2020, the number of persons unemployed increased by 336,000 in the EU. Also in July 2020, 2.906 million young persons (under 25) were unemployed in the EU, of whom 2.338 million were in the euro area. In July 2020, the youth unemployment rate was 17.0% in the EU and 17.3% in the euro area, up from 16.9% and 17.2% respectively in the previous month. Compared with June 2020, youth unemployment (shown in the graph - source Eurostat) increased by 37,000 in the EU and by 29,000 in the euro area. Finally, the data released by Eurostat today show that in July 2020, the unemployment rate for women was 7.5% in the EU, up from 7.3% in June. The unemployment rate for men was 7.0% in July 2020, up from 6.8% in June 2020. In the euro area, the unemployment rate for women increased from 8.0% in June 2020 to 8.3% in July 2020 while it increased from 7.5% to 7.6% for men.
Andrea Regimenti