The unemployment rate in Spain in March doubles the European average

by time news

2023-05-03 12:01:31

Wednesday, May 3, 2023, 12:01

Eurozone unemployment experienced a slight improvement in March and fell to 6.5%. The labor market in the euro countries is experiencing a sweet moment, with an unemployment rate at record lows, according to data published this Wednesday by the European Statistical Office (Eurostat). This phenomenon also extends to the whole of the European Union (EU), which in March registered 6% unemployment. In Spain, the unemployment rate doubles the European average (12.8%), being the country with the highest unemployment in the Eurozone and the EU.

The Spanish labor market, however, experienced a slight improvement compared to February. The data is also better compared to March last year, when unemployment reached 13.2%. In absolute terms, unemployment in Spain fell by 16,000 people in March. Of course, the country accumulates 3,026,000 unemployed; or what is the same: one in four unemployed in the EU is Spanish.

According to Eurostat estimates, Spanish records are only comparable to those of Greece, the only euro economy in which unemployment also remains in double digits (10.9%). Italy and Sweden are also above the average, with 7.8% and 7.3% unemployment, respectively. On the contrary, the Czech Republic -with an unemployment rate of 2.6%-, Poland and Germany (2.8%) and Malta (2.9%), are among the countries with the least unemployment in the EU in March .

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