Unemployment in the eurozone stagnated in May, slightly decreased in Croatia

In the 20-member eurozone, the unemployment rate measured by the methodology of the International Labor Organization (ILO) was 6.4 percent in May, as in the previous month. Compared to last year’s May, it is lower by 0.1 percentage points, according to the report of the European Statistical Office.

In the EU, too, it remained at the level of April when it was six percent, and it also maintained the situation in May of last year.

Eurostat estimates that 13.2 million citizens were unemployed in the EU in May, of which 11.08 million were in the eurozone.

The monthly comparison shows that the number of unemployed in the Eurozone increased by 38 thousand in May, and by 13 thousand in the EU. On an annual level, it grew by three thousand in the Eurozone and by 163 thousand in the EU.

Croatia is below average

Spain and Greece were the only countries to record a double-digit unemployment rate in May, at 11.7 and 10.6 percent, respectively.

Sweden again recorded the highest single-digit unemployment rate in the EU, at 8.4 percent, followed by Finland with 8.2 percent.

In Croatia, the unemployment rate measured by the ILO methodology was 5.3 percent in May and was 0.1 percentage point lower than in April, according to revised data in the current Eurostat report.

There were 91,000 unemployed citizens in Croatia in May, 1,000 less than in April. Compared to May of last year, their number decreased by 13 thousand.

The closest to Croatia in May was Romania with an unemployment rate of 5.4 percent, the tables show.

The lowest unemployment rate was again recorded by the Czech Republic and Poland, at 2.7 and three percent, respectively. Malta and Slovenia follow, with 3.2 percent, and Germany and the Netherlands, with 3.3 and 3.6 percent, respectively.

High youth unemployment

In the age group up to 25 years, the unemployment rate in the eurozone was 14.2 percent in May, as well as in April, according to a slightly increased value.

In the EU, it was lower by 0.1 percentage point compared to the slightly increased value in April, slipping to 14.4 percent.

In May last year, it amounted to 14.2 percent in both areas, according to the tables of the statistical office.

Statisticians estimate that 2.83 million young people were unemployed in the EU in May, of which almost 2.3 million were in the eurozone.

Compared to the same month last year, the number of unemployed youth increased by 32 thousand in the Eurozone and by 80 thousand in the EU.

A double-digit majority

In May, according to the available data, Spain recorded the highest youth unemployment rate of 26.6 percent. Sweden follows with an unemployment rate of 24.1 percent.

Close behind are Greece and Portugal with 23.8 and 23 percent respectively, and Slovakia and Italy where it was 20.6 and 20.5 percent respectively.

As many as 15 EU countries recorded double-digit youth unemployment rates in May, according to data available to Eurostat.

By far the lowest youth unemployment rate was recorded in Germany in May, at six percent. Ireland and the Czech Republic follow with 7.7 and 8.7 percent, respectively, the tables show.

Croatia, Belgium, Cyprus, Romania and Slovenia are not obliged to submit monthly data on youth unemployment.

In the first quarter of this year, Croatia recorded 21,000 unemployed youth, which corresponds to an unemployment rate of 17.9 percent, Eurostat confirmed the estimate from the end of May.