Eurozone unemployment rate unexpectedly rose in June

According to the report from Eurostat, in June 2020, the month when COVID-19 containment measures started being phased out in most Member States, the euro area seasonally-adjusted unemployment rate was 7.8%, up from 7.7% in May 2020. Unemployment was expected to remain at 7.7%. The EU unemployment rate was 7.1% in June 2020, up from 7.0% in May 2020.

Eurostat estimates that 15.023 million men and women in the EU, of whom 12.685 million in the euro area, were unemployed in June 2020. Compared with May 2020, the number of persons unemployed increased by 281 000 in the EU and by 203 000 in the euro area.

In June 2020, 2.962 million young persons (under 25) were unemployed in the EU, of whom 2.360 million were in the euro area. In June 2020, the youth unemployment rate was 16.8% in the EU and 17.0% in the euro area, up from 16.2% and 16.5% respectively in the previous month. Compared with May 2020, youth unemployment increased by 124 000 in the EU and by 80 000 in the euro area.

In June 2020, the unemployment rate for women was 7.5% in the EU, up from 7.3% in May 2020. The unemployment rate for men was 6.7% in June 2020, up from 6.6% in May 2020. In the euro area, the unemployment rate for women increased from 8.1% in May 2020 to 8.3% in June 2020 while it increased from 7.3% to 7.4% for men.