Unemployment down in eurozone, EU in May

The unemployment rate in the euro area decreased from 6.7% to 6.5% year-on-year in May, while in the EU, it dropped from 6.1% to 5.9%.

Eurostat revealed on Friday that last month, there were 12.9 million unemployed people in the EU, with 11 million of them in the euro area.

“Compared with May 2022, unemployment decreased by 257 thousand in the EU and by 227 thousand in the euro area,” it noted.

The youth unemployment rate was 13.9% both in the EU and in the euro area, up by 65 thousand in the EU and by 46 thousand in the euro area on a yearly basis.

The highest unemployment rate was posted by Spain with 12.7% in May, followed by Greece (10.8%), and Italy (7.6%).