Eurozone unemployment rate fell slightly in August

Data published by Eurostat showed that in August 2021, the euro area seasonally-adjusted unemployment rate was 7.5%, down from 7.6% in July 2021 and from 8.6% in August 2020. The EU unemployment rate was 6.8% in August 2021, down from 6.9% in July 2021 and from 7.7% in August 2020.

Eurostat estimates that 14.469 million men and women in the EU, of whom 12.162 million in the euro area, were unemployed in August 2021. Compared with July 2021, the number of persons unemployed decreased by 224 000 in the EU and by 261 000 in the euro area. Compared with August 2020, unemployment decreased by 1.965 million in the EU and by 1.861 million in the euro area.

In August 2021, 2.833 million young persons (under 25) were unemployed in the EU, of whom 2.317 million were in the euro area. In August 2021, the youth unemployment rate was 16.2% in the EU and 16.4% in the euro area, down from 16.4% and 16.7% respectively in the previous month. Compared with July 2021, youth unemployment decreased by 66 000 in the EU and by 63 000 in the euro area. Compared with August 2020, youth unemployment decreased by 508 000 in the EU and by 471 000 in the euro area.