Euro area unemployment rates stable in August ’24

The euro area’s seasonally adjusted unemployment rate remained stable at 6.4 per cent in August 2024, unchanged from July, according to data released by the EU statistical office, Eurostat on Wednesday.

On an annual basis, the rate witnessed a decrease from 6.6 per cent in August 2023.

The EU unemployment rate decreased to 5.9 per cent, down from 6.0 per cent in July 2024 as well as August 2023.

Approximately 13.027 million people in the EU were unemployed in August, with 10.925 million in the euro area.

This reflects a decrease of 108,000 in the EU and 94,000 in the euro area compared to July 2024. Year-on-year, unemployment fell by 142,000 in the EU and 233,000 in the euro area.

Youth unemployment also saw improvement, with 2.766 million young individuals (under 25) unemployed in the EU and 2.231 million in the euro area.

The youth unemployment rate in the EU decreased to 14.3 per cent from 14.5 per cent in July, while in the euro area, it fell to 14.1 per cent from 14.2 per cent.

Gender disparities in unemployment persisted, with the EU rate for women remaining at 6.1 per cent and for men decreasing to 5.7 per cent.

In the euro area, the women’s unemployment rate held steady at 6.6 per cent, while the men’s rate dropped to 6.1 per cent from 6.2 per cent.