Euro area unemployment drops to 17-month low in September

In September 2021, the euro area seasonally-adjusted unemployment rate was 7.4%, down from 7.5% in August 2021 and from 8.6% in September 2020. The EZ U-rate has not been this low since April 2020 (7.3%), after which it rose to 7.7% in May and further to 8.6% in Sept.

The EU unemployment rate was 6.7% in September 2021, down from 6.9% in August 2021 and from 7.7% in September 2020.

Eurostat estimates that 14.324 million men and women in the EU, of whom 12.079 million in the euro area, were unemployed in September 2021. Compared with August 2021, the number of persons unemployed decreased by 306 000 in the EU and by 255 000 in the euro area. Compared with September 2020, unemployment decreased by 2.054 million in the EU and by 1.919 million in the euro area.

In Hungary, there were 173,000 unemployed people in September, which resulted in a jobless rate of 3.6%, down from 4.1% in August and 4.3% in September 2020. In August, there were 198,000 unemployed people in Hungary, and 207,000 did not have an official job last September.

The highest U-rates were recorded in Spain (14.6%) and Greece (13.3%), which figures compare with 14.8% and 13.8% a year ago, respectively.

Unemployment rates higher than the EU average were recorded in Italy (9.2%), Sweden (8.8%), Finland (7.9%), and France (7.7%).

Czechia had the lowest jobless rate in September (2.6%), down from 2.8% both in August and Sept 2020.