Eurozone May unemployment rate 7.4% vs 7.7% expected

Author: Justin Low | Category: News

Latest data released by Eurostat - 2 July 2020


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The jobless rate comes in lower-than-expected once again and is only a touch higher relative to April. Once again, I'd want to caution against looking too much into this as the figures are a bit skewed by government furlough programs and also the fact that the ILO standard definition of "unemployment" isn't exactly the best in a time like this:

A person aged between 15 to 74 years who are without work, are available to start work within the next two weeks and have actively sought employment at some time during the previous four weeks.
 
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