Spain continues to be the leader in unemployment in Europe despite reducing it more strongly

Spain reduces unemployment more strongly than its neighbors, but it still does not help it to get out of the red lantern of statistics, according to Eurostat data published this Monday.

Thomas Osborne
Thomas Osborne
01 August 2022 Monday 04:56
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Spain continues to be the leader in unemployment in Europe despite reducing it more strongly

Spain reduces unemployment more strongly than its neighbors, but it still does not help it to get out of the red lantern of statistics, according to Eurostat data published this Monday. The national figure remained in June at 12.6%, the same as in May. Greece is the only country that also exceeds 10%, with 12.3%.

In any case, unemployment is falling at a faster rate than the rest of the continent. It does so 2.7 percentage points in one year, from 15.3%, higher than the euro zone, where it has fallen 1.3 points, and the European Union, with 1.2 points. In the euro zone as a whole, the rate has remained at 6.6%, while in the European Union it remains at 6%, without variation. They are minimum since the beginning of the historical series, back in 1998.

As reflected in the latest EPA and the monthly unemployment data, job creation is maintained despite the context of economic uncertainty and skyrocketing inflation, thanks to the pull of services due to the summer season and the return of international tourism.

In total, in Spain there are 2.975 million unemployed. France, with 2,177 million (7.2% unemployment) and Italy (2,031 million, 8.1% unemployment) also exceed the barrier of two million unemployed.

The lowest unemployment rate in Europe is in the Czech Republic, with 2.4%, compared to 2.7% in Poland or 2.8% in Germany, the best placed.

Eurostat has also updated the data on youth unemployment, among those under 25 years of age. In this case, Greece is the worst stop, with 29.5% (down six tenths in June), by 27.9% in Spain (up six tenths in the month, although it is eight points lower than the previous year).

Much higher figures are given in this statistic overall. At a continental level it is 13.6% both in the eurozone and the European Union, with four and three tenths on the rise respectively. Italy (23.1%), Sweden (21.3%) and Estonia (21.2%) also exceed 20%. Somewhat further behind are Slovakia (19.8%) or Portugal (19.3%).