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Eurozone: unemployment falls despite shutdown

2021-01-08T13:11:08.403Z


The corona pandemic has also paralyzed the economy in many countries. Nevertheless, unemployment in the euro zone fell in November: from 8.4 to 8.3 percent.


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VW employees with mouth and nose protection

Photo: Swen Pförtner / DPA

Despite the shutdown in many countries, unemployment has fallen in the euro zone.

In November, the seasonally adjusted rate in the entire currency area fell from 8.4 to 8.3 percent, as reported by the European statistics agency Eurostat.

more on the subject

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  • ECB economic report: Short-time working protects Europe from higher unemployment

Compared to the same month last year, however, it was 1.1 percentage points higher.

The measures to contain the corona pandemic are apparently decisive for the higher unemployment compared to November 2019.

Their consequences are, however, considerably dampened by far-reaching state support programs, for example in Germany by generous regulations on short-time work.

Eurostat estimates that 13.6 million people are currently unemployed in the euro area.

In the European Union there are therefore 15.9 million people.

There were comparatively low values ​​for the unemployment rate in November in the Netherlands (4.0 percent) and Germany (4.5 percent).

The highest values ​​were recorded in Spain (16.4 percent) and Greece (16.1 percent in September).

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bah / Reuters / dpa

Source: spiegel

All business articles on 2021-01-08

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