Eurozone unemployment continues to spike

The unemployment rate in the 19-member Euro zone area continued to spike in July, a month marked by relaxation of some Covid-19 containment measures in many European Union (EU) member states, according to official figures.

The figures released by Euro-stat, the statistical office of the EU, on Tuesday, showed raw seasonally-adjusted unemployment rate in the area was 7.9 per cent in July, up from 7.7 per cent the previous month, Xinhua news agency reported.

The unemployment rate in the whole EU area was 7.2 per cent in July, higher than 7.1 per cent in June, it added.

Among some 15.2 million unemployed in the EU, 2.9 million were aged under 25.

The youth unemployment rate was 17 per cent in the EU and 17.3 per cent in the euro area, up from 16.9 per cent and 17.2 per cent respectively in June, showing continued deterioration of the employment situation.

Among EU member states, the lowest unemployment rates in July were recorded in the Czech Republic at 2.7 per cent, followed by Poland at 3.2 per cent.

The highest unemployment rates were recorded in Spain at 15.8 per cent, followed by Italy at 9.7 per cent..