Eurozone Jobless Rate Steady At 8.3%

Eurozone Jobless Rate Steady At 8.3%

Euro area unemployment rate remained unchanged in February after rising in the previous month, preliminary figures from Eurostat showed Tuesday.

The seasonally-adjusted unemployment rate was 8.3 percent, unchanged from January.

Economists had expected the rate to remain steady at January’s original figure of 8.1 percent.

A year ago, the jobless rate was 7.3 percent.

In the EU, the jobless rate was 7.5 percent in February, unchanged from the previous month, the rate for which was revised from 7.3 percent.

In February, the number of unemployed in the EU was 15.953 million, of whom 13.571 million were in the euro area. Compared to the previous month, the number of unemployed increased by 48,000 in the euro area.

Unemployment rose 1.507 million persons year-on-year in the euro area.

The Eurozone youth unemployment rate, which applies to those under 25 years of age, slid to 17.3 percent in February from 17.4 percent in January.

The corresponding figure for the EU eased to 17.2 percent from 17.4 percent.

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