Eurozone unemployment rate stabilized in February

According to the report from Eurostat, in February 2021, the euro area seasonally-adjusted unemployment rate was 8.3%, stable compared with January 2021 and up from 7.3% in February 2020. The EU unemployment rate was 7.5% in February 2021, also stable compared with January 2021 and up from 6.5% in February 2020.

Eurostat estimates that 15.953 million men and women in the EU, of whom 13.571 million in the euro area, were unemployed in February 2021. Compared with January 2021, the number of persons unemployed increased by 34 000 in the EU and by 48 000 in the euro area. Compared with February 2020, unemployment rose by 1.922 million in the EU and by 1.507 million in the euro area.

In February 2021, 2.967 million young persons (under 25) were unemployed in the EU, of whom 2.394 million were in the euro area. In February 2021, the youth unemployment rate was 17.2% in the EU and 17.3% in the euro area, compared with 17.4% in both areas in the previous month. Compared with January 2021, youth unemployment decreased by 34 000 in the EU and by 9 000 in the euro area. Compared with February 2020, youth unemployment increased by 230 000 in the EU and by 177 000 in the euro area.