Eurozone unemployment rate stabilized in January

According to the report from the Eurostat, in January 2021, the euro area seasonally-adjusted unemployment rate was 8.1%, stable compared with December 2020 and up from 7.4% in January 2020. The EU unemployment rate was 7.3% in January 2021, also stable compared with December 2020 and up from 6.6% in January 2020.

Eurostat estimates that 15.663 million men and women in the EU, of whom 13.282 million in the euro area, were unemployed in January 2021. Compared with December 2020, the number of persons unemployed increased by 29 000 in the EU and by 8 000 in the euro area. Compared with January 2020, unemployment rose by 1.465 million in the EU and by 1.010 million in the euro area.

In January 2021, 2.929 million young persons (under 25) were unemployed in the EU, of whom 2.356 million were in the euro area. In January 2021, the youth unemployment rate was 16.9% in the EU and 17.1% in the euro area, compared with 16.9% and 17.2% respectively in the previous month. Compared with December 2020, youth unemployment increased by 3 000 in the EU and decreased by 15 000 in the euro area. Compared with January 2020, youth unemployment increased by 184 000 in the EU and by 89 000 in the euro area.