The unemployment rate has risen again in the eurozone as the impact of the coronavirus pandemic continues to make its presence felt. Official figures Tuesday put the jobless rate in the region at 7.9% for the month of July.
This reading comes after the eurozone logged a revised unemployment rate of 7.7% in June. Tuesday’s numbers show a deteriorating picture but are still below the record high seen in the midst of the sovereign debt crisis.
The euro area has been grappling with a severe economic recession in the wake of the pandemic. The 19-member economy contracted by 12.1% in the second quarter of the year following strict lockdown measures to prevent further contamination. The contraction was the worst since records began in 1995, according to Eurostat.
The difficult economic environment is also hitting youth, where the unemployment rate, which includes those aged under 25, rising slightly to 17.3% in July from 17.2% in June. The situation is also affecting women slightly more than men: the jobless rate among female workers rose to 8.3% in July, while among men it increased to 7.6% over the same month.
