The unemployede in the euro zone increased very slightly in May, according to an estimate this Thursday 2 July ofEurostat, which specifies that its method of calculation does not fully capture the consequences containment measures in the labor market.
A small increase, but …
In May, where the 19 countries that adopted the single currency gradually deconfigured, the unemployment rate stood at 7.4%, against 7.3% in April, writes the European Statistics Office.
Euro area #unemployment up to 7.4% in May 2020 (7.3% in April). EU up to 6.7% https://t.co/X9JmpqjrFR pic.twitter.com/RHDwUW8hRs
– EU_Eurostat (@EU_Eurostat) July 2, 2020
This slight increase is explained by the criterion used by Eurostat to define unemployment, that of the International Labor Office (ILO) which designates as unemployed unemployed people who have actively looked for work in the past four weeks and are available to start work in the next two weeks
.
Deviations
However, if a very strong increase in unemployment compensation claims was recorded from March, an important part
persons previously registered were no longer considered to be in active job search
, either because of the limitations imposed by confinement, or because they were no longer available for work, for example because they had to babysit.
This situation leads to discrepancies between the number of unemployed registered in employment agencies and those measured as unemployed according to the definition of the ILO.
says Eurostat, which promises additional indicators
to complete this data.
Across the EU, the unemployment rate stood at 6.7% in May, compared to 6.6% in April. Among young people (under 25), the unemployment rate rose in May to 16% in the euro area, against 15.7% in April.
– .
