A report released by the Eurostat showed that in March, the unemployment rate fell to 6.5% from 6.6% in February. Economists had expected unemployment to remain at 6.6%. Meanwhile, the EU unemployment rate has not changed compared to February, and amounted to 6%.
Eurostat reported that in March, the number of unemployed in the eurozone decreased by 121,000 compared to February and by 365,000 in annual terms, to 11.010 million. As for the EU countries, the number of unemployed amounted to 12.960 million (-155,000 for the month and -353,000 compared to March 2022).
The data also showed that youth unemployment (under 25) in the eurozone increased by 91,000 compared to March 2022, reaching 2.264 million. In the EU, youth unemployment increased by 105,000, to 2.763 million. Meanwhile, the youth unemployment rate in the eurozone fell by 0.1% compared to February, to 14.3%. In the EU, the youth unemployment rate fell to 14.3% from 14.5%.
Eurostat also reported that in the EU, the unemployment rate among women fell to 6.3% from 6.4%, while the unemployment rate among men fell to 5.6% from 5.7%. In the eurozone, the unemployment rate for women was 7% (-0.1% relative to February) and the unemployment rate for men remained at 6.1%.