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Euro Area Unemployment Falls to an All-time Low 6.8% in February

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Eurozone unemployment rate drops to a new record low in February, signaling there were 1 million fewer jobless people in the trading bloc than before the pandemic hit two years ago.

Source: Eurostat

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In February, there were 11.16 million jobless people in the euro area, matching an all-time low unemployment rate of 6.8%. That is lower than 6.9% in January.

The number of unemployed people in the euro area has dropped by 1 million since February 2020, briefly before the Covid-19 crisis struck Europe, and dropped to nearly 6.5 million from 10 years ago.

In the entire EU, the unemployment rate dropped from 6.3% in January to 6.2% in February.

Youth unemployment also fell across the region, falling from 14.3% to 14% in both EU and Eurozone.

 

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