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More than 11 million unemployed in eurozone, report indicates

Brussels, Jul 2 (Prensa Latina) More than 11 million people were unemployed in May of this year in the Eurozone, in a scenario of persistent inflation, according to preliminary reports from Eurostat.

According to the European Statistical Office (Eurostat), the unemployment rate in the Euro zone remained unchanged compared to April, standing at 6.4 percent, but in absolute terms the number of unemployed individuals increased, after adding another 38.000.

At the European Union (EU) level, the proportion was six percent in May, with no variations in the inter-annual and inter-monthly comparison, with the highest unemployment rates in Spain (11.7 percent), Greece (10.6) and Sweden (8.4).

According to Eurostat’s calculations, around 13.2 million inhabitants in the EU, including more than 11 million residents in the Euro zone, were unemployed in May, which guaranteed two setbacks compared to the same month in 2023, as the number of unemployed increased by 163,000 and 3,000, respectively.

For young people under 25 years of age, the records show a worse situation: the unemployment rate in May 2024 was 14.4 percent in the EU (2.8 million individuals) and 14.2 percent in the Eurozone (2.3 million of the total in the Community bloc).

Compared to May to 2023, youth unemployment increased by 80,000 people in the EU as a whole and incorporated another 32 000 within the Eurozone, the publication reflected.

On the behavior of inflation, Eurostat confirmed the persistence of more marked pressures in the area of the 20 States that share the euro, although it forecast a slight reduction in June 2024, to 2.5 percentage points, lower than the 2.6 percent of the previous month.