Unemployment marks slight drop in eurozone EU for March

The EU unemployment rate, measured by the International Labour Organisation's methodology (ILO), stood at 6.2 per cent in March, 0.1 percentage points lower from its revised value in February, according to Eurostat.

It also slightly decreased in the eurozone, with 0.1 percentage points compared to the revised value last month, dropping to 6.8 percent. In March 2021, it was 7.5 percent in the EU and 8.2 percent in the eurozone.

A total of 13,374 million people were unemployed in the EU in March, of which 11,274m were in the eurozone.

Compared to February, their number in the EU has dropped by 85 thousand, and by 76 thousand in the eurozone. Compared to last March, it has dropped by 2.359m in the EU and 1.931m in the eurozone.

Spain and Greece also marked the dual unemployment rate in March, the highest among EU countries at 13.5 per cent and 12.9 per cent, followed by Italy by 8.3 per cent.

In Croatia, the unemployment rate measured with ILO methodology was 6.5 percent in March and was 0.1 percentage points lower than in February. Last March was 8.4 percent. So Croatia returned to the beginning of the pandemic in March 2020 with the unemployment rate. In February 2020, it was 5.9 percent.

According to Eurostat, there were 118,000 unemployed in Croatia in March, 1,000 less than a month ago. Compared to March 2021, their numbers have dropped by 34 thousand.

Slovakia registered the same unemployment rate as Croatia in March, and Finland is close to 6.6 per cent.

The Czech Republic continues to have the lowest unemployment rate in the EU, with 2.3 percent. Germany follows with 2.9 percent, and Malta and Poland with three percent. Hungary and the Netherlands are close to 3.2 and 3.3 percent respectively.

Unemployment among citizens under the age of 25 also dropped slightly in March, where the unemployment rate in the EU and the eurozone dropped by 0.1 percentage points compared to February to 13.9 per cent.

Last March was 18.1 percent in the EU and 18.4 percent in the eurozone. 2.57 million young people were without jobs in the EU in March of this year, of which 2.09 million were in the eurozone. Compared to February, the number of unemployed has decreased in the EU by 15 thousand, while in the eurozone by 17 thousand.

Compared to March last year, their number is lower for 623 000 in the EU and 507 thousand in the eurozone.

Among the EU countries whose Eurostat data was available, Spain and Greece marked the highest unemployment rates among young people in March, respectively, 29.6 and 27.2 percent. They are followed by Italy and Sweden with youth unemployment rates, 24.5 percent and 22.3 percent respectively.

The unemployment rate of citizens under 25 years of age is also high in Portugal, where it was 21.6 percent and in Slovakia 18.8 percent. Germany's lowest unemployment rate was again marked by 5.5 percent, and Austria and Denmark were also at 6.9 percent.

Croatia, Belgium, Cyprus, Romania and Slovenia are not required to submit monthly data on youth unemployment.

In the first quarter, Croatia registered a youth unemployment rate of 17 percent, with 23,000 unemployed, according to Eurostat. In the fourth quarter of 2021, Eurostat's revised data reached 18.4 percent, with 25 thousand young people out of work.