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Jun Unemployment Up

(MNI) LONDON
EZ JUN UNEMPLOYMENT RATE 7.8%; MAY 7.7%r

  • The Eurozone unemployment (UE) rate edged up to 7.8% in Jun, above
    expectations for an increase to 7.7%.
  • May's jobless rate was revised up by 0.3pp to 7.7%
  • Jun's increase marks the third successive uptick in the unemployment rate.
  • Among the member states, the lowest rates were observed in Germany (4.2%),
    Malta (4.2%) and the Netherlands(4.3%), while the highest rate was
    observed in Spain (15.6%)
  • Eurostat mentioned that Covid-19 confinement measures have triggered a
    sharp rise in the number of claims for unemployment benefits across the EU.
  • Eurostat noted that a significant amount of people stopped looking for work
    during the Covid-19 crisis for several reasons, leading to discrepancies in the
    number of registered unemployed and those measured unemployed according
    to the ILO definition.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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