Unemployment in the Eurozone Slightly Increased in August, Stable in Croatia

Unemployment in the Eurozone has marginally increased in August, while in Croatia it remained stable, significantly below the average, according to a report from the European statistical office released on Thursday.

In the Eurozone, the unemployment rate, measured by the International Labour Organization (ILO) methodology, was 6.3 percent in August, which is 0.1 percentage points higher than in July, according to Eurostat calculations.

Citizens, however, estimate that it was 7.4 percent, which would mean that according to their perception, it was higher by 0.2 percentage points than in July, based on the median value in a survey by the European Central Bank (ECB).

At the level of the European Union, the unemployment rate remained at the July level of 5.9 percent in August, according to Eurostat calculations.

Compared to the same month last year, unemployment rates remained unchanged in both areas.

Their perception of unemployment is also higher than official data, standing at 7.4 percent, according to the median estimates.

Eurostat estimates that in the EU in August, nearly 13.1 million citizens were unemployed, including about 10.8 million in the Eurozone.

Croatia Alongside Ireland

Spain was the only country to record a double-digit unemployment rate in August, at 10.3 percent. Finland was close behind with a rate of 9.8 percent.

In Croatia, the unemployment rate measured by the ILO methodology in August was 4.6 percent, the same as the previous month.

In Croatia, 82 thousand citizens were unemployed in August, the same as in July, according to revised data. The preliminary estimate for July showed 81 thousand unemployed.

Compared to August 2024, the number of unemployed in Croatia decreased by seven thousand.

The country closest to Croatia in terms of unemployment rate in August was Ireland, where it stood at 4.7 percent. Malta and Slovenia had the lowest unemployment rates, measured at 2.9 percent. The Czech Republic and Poland were in the group with a rate of 3.2 percent.

Double-Digit Youth Unemployment

In the age group up to 25 years, the unemployment rate in the Eurozone was 14 percent in August, the same as the previous month, according to revised data. In the EU, it increased by 0.2 percentage points to 14.6 percent.

Compared to August of last year, it decreased by 0.9 percentage points in the Eurozone and by 0.6 percentage points in the EU.

Statisticians estimate that in the EU in August, approximately 2.8 million young people were unemployed, of which about 2.2 million were in the Eurozone. On a monthly basis, their number decreased by four thousand in the Eurozone, while it increased by 20 thousand in the EU as a whole.

Comparison with August of last year shows that the number of unemployed young people in the Eurozone decreased by 156 thousand and by 147 thousand at the Union level.

Estonia Ahead of Sweden

Estonia maintained its leading position in the EU for youth unemployment in August, at 25.4 percent. Sweden follows with 23.9 percent.

Spain and Finland also exceeded the 20 percent mark, with 23.1 and 22.4 percent of unemployed citizens under 25 years old, respectively. Luxembourg is close to that threshold with a youth unemployment rate of 19.8 percent.

In August, only three countries, according to Eurostat’s available data, recorded single-digit youth unemployment rates, with the lowest being in Germany at 6.5 percent. The Netherlands and Malta also had rates of 8.6 and 9.2 percent, respectively.

Croatia, Belgium, Cyprus, Romania, and Slovenia publish quarterly data on youth unemployment.

In the second quarter, Croatia recorded a youth unemployment rate of 17 percent, according to revised Eurostat data, with 20 thousand young people unemployed. The preliminary estimate from early September showed an unemployment rate of 16.9 percent, with the same number of young people unemployed.