Unemployment Hits Record Low in the EU and Eurozone

In February, the unemployment rate reached a historically low level, both in the eurozone and across the entire European Union (EU), according to data released on Tuesday by the European statistics office Eurostat.

The unemployment rate declined to 5.7% in the EU and 6.1% in the eurozone, marking the lowest figures recorded since the start of data collection in April 1998.

In the eurozone, the unemployment rate decreased from 6.2% in January to 6.1% in February. The year-on-year decline is even more significant, with a reduction of 0.4 percentage points in the unemployment rate across the 20 eurozone countries. For the EU as a whole, the monthly decrease stands at 0.1 percentage points compared to January.

In February, approximately 12.68 million individuals were unemployed within the 27 EU member states, including 10.58 million in the eurozone.

Countries with the lowest unemployment rates were Poland (2.6%), the Czech Republic (2.7%), and Malta (2.7%), while the highest rates were recorded in Spain (10.4%), Sweden (9%), Finland (8.8%), and Greece (8.6%).