European Economic News

Eurostat Revises Up Eurozone May Jobless Rate To 12.2% From 12.1%

Euro area statistical agency Eurostat on Tuesday revised up the euro area unemployment rate for May to 12.2 percent from 12.1 percent reported a day earlier, following a correction in the French data.

Following the correction, there was a 0.5 percentage point upward revision in the French unemployment rate for May, which resulted in the overall jobless rates for the currency-bloc as well as the EU moving up by 0.1 percentage point, the agency said.

As per the revised data, Eurozone's unemployment rate for May currently stands at 12.2 percent, rising further to a new record high from April's 12.1 percent. A revision of same degree was applied to the March and April figures, raising them from 12 percent reported earlier.

The youth unemployment rate for May was also revised up to 23.9 percent from 23.8 percent.

The EU27 unemployment rate was 11 percent in May, unchanged from April.

by RTTNews Staff Writer

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