Eurozone's unemployment rate unexpectedly fell in April

According to the report from Eurostat, in April 2021, the euro area seasonally-adjusted unemployment rate was 8.0%, down from 8.1% in March 2021 and up from 7.3% in April 2020. Unemployment was expected to remain at 8.1%. The EU unemployment rate was 7.3% in April 2021, stable compared with March 2021 and up from 6.7% in April 2020.

Eurostat estimates that 15.380 million men and women in the EU, of whom 13.030 million in the euro area, were unemployed in April 2021. Compared with March 2021, the number of persons unemployed decreased by 165 000 in the EU and by 134 000 in the euro area. Compared with April 2020, unemployment rose by 1.406 million in the EU and by 1.275 million in the euro area.

In April 2021, 2.939 million young persons (under 25) were unemployed in the EU, of whom 2.348 million were in the euro area. In April 2021, the youth unemployment rate was 17.1% in the EU and 17.2% in the euro area, stable in both areas compared with the previous month. Compared with March 2021, youth unemployment decreased by 21 000 in the EU and by 18 000 in the euro area. Compared with April 2020, youth unemployment increased by 211 000 in the EU and by 126 000 in the euro area.

In April 2021, the unemployment rate for women was 7.6% in the EU, down from 7.7% in March 2021. The unemployment rate for men was 7.0% in April 2021, stable compared with March 2021. In the euro area, the unemployment rate for women decreased from 8.5% in March 2021 to 8.4% in April 2021 while the unemployment rate for men remained stable at 7.7%.