Eurozone unemployment rate remained at 7.4% in January

According to the report from Eurostat, the euro area (EA19) seasonally-adjusted unemployment rate was 7.4% in January 2020, stable compared with December 2019 and down from 7.8% in January 2019. This remains the lowest rate recorded in the euro area since May 2008. The EU27 unemployment rate was 6.6% in January 2020, stable compared with December 2019 and down from from 6.9% in January 2019. This is the lowest rate recorded in the EU27 since the start of the EU monthly unemployment series in January 2000.

Eurostat estimates that 14.086 million men and women in the EU27, of whom 12.179 million in the euro area, were unemployed in January 2020. Compared with December 2019, the number of persons unemployed increased by 16 000 in the EU27 and by 1 000 in the euro area. Compared with January 2019, unemployment fell by 746 000 in the EU27 and by 593 000 in the euro area.

In January 2020, 2.719 million young persons (under 25) were unemployed in the EU27, of whom 2.249 million were in the euro area. Compared with January 2019, youth unemployment decreased by 110 000 in the EU27 and by 75 000 in the euro area. In January 2020, the youth unemployment rate was 14.9% in the EU27 and 15.6% in the euro area, compared with 15.5% and 16.1% respectively in January 2019.