A report released by the Eurostat showed that in January, the unemployment rate was 6.7%, unchanged from December (revised from 6.6%). Economists had forecast a drop in unemployment to 6.6%. The EU unemployment rate was 6.1% in January, also stable compared with December.
Eurostat reported that in January, the number of unemployed in the eurozone decreased by 220,000 in annual terms, to 11.288 million. As for the EU countries, the number of unemployed amounted to 13.227 million (-318,000 compared to January 2022).
The data also showed that youth unemployment (under 25) in the eurozone increased by 112,000 compared to January 2022, reaching 2.286 million. In the EU, youth unemployment increased by 116,000, to 2.781 million. Meanwhile, the youth unemployment rate in the eurozone rose by 0.1% to 14.4%. In the EU, the youth unemployment rate fell to 14.4% from 14.5% in December.
Eurostat also reported that in the EU, the unemployment rate among women has not changed (6.5%), while the unemployment rate among men decreased by 0.1% to 5.7%. In the eurozone, the unemployment rate for women was 7.2% (+0.1%) and the unemployment rate for men was 6.2% (-0.1%).