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The Eurozone unemployment report for April 2024 shows that it hit at a new record low. This is good news for Europe, which has been struggling with higher inflation and interest rates, as well as economic and geopolitical uncertainty from the ongoing Russia-Ukraine war and the resulting rising energy prices.
According to Euronews, the Eurozone unemployment report for April 2024, released today, shows that it hit a new record low of 6.4%, beating analyst estimates of 6.5%, according to Eurostat. This was a decrease from March’s number, which was 6.5% as well. Unemployment in the euro area has remained stagnant at 6.5% for the five months up to March.
The number of people without a job fell by 100,000 from the previous month to 10.998 million. The unemployment rate for people under the age of 25 also dropped to 14.1% in April. This was down from 14.3% in the month prior.
Spain still topped the unemployment rate list, at 11.7%, with France coming in second place with 7.3% of the population without jobs. Italy had an unemployment rate of 6.9%. On the other hand, Germany had the lowest unemployment rate, coming in at 3.2%.
