Unemployment in the EU remained at 6.7 % in October, the lowest is still in the Czech Republic

Published: 06.12.2021 Related countries:  United Kingdom United Kingdom

According to seasonally adjusted data, the unemployment rate in the European Union remained at 6.7 % in October. The lowest is still in the Czech Republic, where it was 2.6 %. It announced the European statistical office Eurostat. In the euro area, unemployment fell by a tenth of a percentage point to 7.3 %.

The situation is slightly more favorable compared to last October, when the economy was already affected by a pandemic. In the EU, unemployment was 7.5 % at the time, while in the euro area it was 8.4 %.

Eurostat estimates that 14.312 million people across the Union were out of work in October this year, of which 12.045 million were in the euro area. Compared to September, the number of unemployed in the EU fell by 77,000 and in countries paying in euros by about 64,000. The decrease compared to last October is 1.650 million in the EU and 1.564 million in the euro area.

Unemployment among young people under the age of 25 is also falling slightly. Across the EU, it fell to 15.9 from 16 % in September, and in the euro area it fell from 16.1 to 15.9 %. A total of 2.905 million young people were out of work in the EU, of which 2.367 million were in the euro area. Compared to last October, the number of unemployed among young people in both economic blocs decreased by about 165,000.

Of the countries that have already released data for October, Spain had the highest unemployment rate, at 14.5 %. This was followed by Greece with an unemployment rate of 12.9 % and Italy, where the unemployment rate rose to 9.4 %.

Eurostat's calculations are based on the International Labor Organization’s (ILO) standard definition of unemployment. It counts among the unemployed those who have been actively looking for work in the last four weeks and are able to start work in the next two weeks.

In the case of the Czech Republic, Eurostat uses data from the Czech Statistical Office (CSO), which differ from the data from the Labor Office of the Czech Republic. According to them, the unemployment rate in the Czech Republic fell to 3.4 % in October from 3.5 % in September. The CZSO bases its unemployment rate on a labor force sample survey, and the Labor Office is based on the number of registered job seekers.

Source: Czech News Agency