Economy & Politics

Unemployment affects Luxembourg more than the EU

According to data published on Tuesday by Eurostat, the average unemployment rate in the EU for the month of July shows a slight increase of 0.1% compared to the previous month, to 7.2%. Unlike its neighbors, the Grand Duchy remains above this average.

Jean-Francois COLIN

Jean-Francois COLIN

According to data published on Tuesday by Eurostat, the average unemployment rate in the EU for the month of July shows a slight increase of 0.1% compared to the previous month, to 7.2%. Unlike its neighbors, the Grand Duchy remains above this average.

Even though July was marked in many European states by a certain easing of containment measures linked to the pandemic, the unemployment rate is up 0.1% compared to June within the EU. According to data released this Tuesday by Eurostat, it settles at 7.2%. The statistical office of the European Union thus estimates at a little over 15 million the number of people seeking employment in all 27 member countries. That is an increase of nearly 350,000 units in one month.

Concerning more specifically Luxembourg square, the trend started since the start of containment in March still cannot be denied. The Grand Duchy still has an unemployment rate (7.3%, 23,000 unemployed) higher than the European average. The difference, this time of 0.1%, continues to decrease compared to June (+ 0.6%) and May (+ 0.8%).

With its 6.9%, the neighbor French is situated just below the European average, while the Belgium (5.5%) and especially atGermany (4.4%) navigate in less choppy waters. Among the 27, Spain (15.8%) presents – by far – the darkest picture. Conversely, the Czech Republic (2.7%) seems to be resisting the crisis the best.

Moreover, Eurostat notes that it is among young people under 25 that the trend is most obvious, with a rate of 17% unemployment rate in the EU in July. In this category as well, Luxembourg is well above the average, posting 26% unemployed. A situation which seems to be improving, however, with a decrease of 1.7% compared to June, to regain significantly the level of April (25.6%).

Finally, the female unemployment rate within the EU in July (7.5%, + 0.2% compared to June) is higher than that of men (7%, + 0.2%). A trend that is not observed in Luxembourg, since 7.4% of the male population was unemployed in July, against 7.2% for women.


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