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Wednesday, 10 March 2021

EU: Spain and Greece on top of unemployment list


The latest unemployment report released by Eurostat, calculates that by October 2020, about 8.4% of the workforce in the Eurozone is unemployed, while about 7.6% of the workforce in the entire EU is unemployed. 


The reported unemployment rate is the highest in Greece (16.8% at the end of August) and Spain (16.2%). According to Eurostat data, the number of unemployed persons at the end of October was 16.23 million, and there has been a slight decrease since then, but due to the coronavirus pandemic, the total has increased by 2.18 million (ie 15.5%) from the previous year. 


Although Greece and Spain continue to top the list, the countries with the lowest unemployment rates are the Czech Republic (2.9%), Poland (3.5%) and Malta (3.9%). 


A similar situation can be seen in the data related to youth unemployment, although all rates are much higher. 


The overall unemployment rate in the European Union is said to be 17.5% (18% in the Eurozone), but in Spain this figure is 40.4%, the highest in the entire European Union: Spain has 627,000 under the age of 25 and 3.11 million in all member states. More than one-fifth of them.

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