EU's unemployment at 6.3% in 2022, lowest since 2009

27 May '23

1 min read

Pic: Shutterstock/Anton Chalakov

Insights

In 2022, EU youth unemployment stood at 6.3 per cent, a historic low since 2009.
The rates varied, with the lowest in Czechia (2.0 per cent), Germany and Bulgaria (3.3 per cent each), and Hungary and Poland (3.5 per cent each).
The highest rates were in Spain (11.2 per cent), Greece (10.6 per cent), Sweden (10.3 per cent), and Cyprus (8.8 per cent).

In 2022, 4.48 million people aged 15–29 years were unemployed in the European Union (EU), representing 6.3 per cent of the total population of the same age. Looking at the long-term trend, this share in 2022 marks a historic low since the beginning of the time series in 2009 at 9.0 per cent.

The situation among the EU countries varied a lot. The share of unemployed young people in the total population was below 4 per cent with Czechia at 2.0 per cent, Germany and Bulgaria—both at 3.3 per cent, as well as in Hungary and Poland—both at 3.5 per cent. Conversely, this share was above 8 per cent with Spain at 11.2 per cent, Greece at 10.6 per cent, Sweden at 10.3 per cent, and Cyprus at 8.8 per cent, Eurostat said in a press release.

Compared with 2021, the share of unemployed young people in the total population decreased in most EU countries. Exceptions were Cyprus, Latvia—both at 0.1 percentage points (pp), Romania at 0.3 pp, and Estonia at 0.4 pp, where this share slightly increased.

Fibre2Fashion News Desk (NB)

More Textiles News - Europe...