Unemployment in the eurozone fell to a new record low in May as the economy continued to recover from the coronavirus pandemic, despite inflation exacerbated by Russia’s invasion of Ukraine and expected to slow growth.
The European Union’s statistical office, Eurostat, said unemployment in the eurozone fell to 6.6% in May from a revised 6.7% in April.
Economists expected a rise to 6.8%.
The rate of 6.6% is the lowest recorded since 1998 when data began to exist, shortly before the official launch of the euro in January 1999.
In absolute terms, the number of unemployed people in the 19 euro countries fell to 11.004 million, from 11.085 million a month ago.
Source: Capital
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