Estonia is distorting unemployment statistics in the EU
In April 2023, the unemployment rate in the eurozone dropped to 6.5% compared to 6.6% in March and 6.7% in April 2022, however, the figures increased in Estonia, according to data from the statistical office of the European Union.
According to Eurostat's estimates, there were 13.028 million unemployed people in the Eurozone in April, of which 11.088 million were residents of euro area countries. Compared to March 2023, unemployment decreased by 18,000 individuals in the EU and by 33,000 in the eurozone. Compared to April 2022, there were 212,000 fewer unemployed people in the EU and 203,000 fewer in the eurozone.
Spain (12.7%) and Greece (11.2%) had the highest unemployment rates among eurozone countries. The lowest unemployment rate in April was recorded in Germany at 2.9%.
In Estonia, the unemployment rate increased to 6.1% in April compared to 5.9% in March and 5.5% in April 2022. There were 45,000 unemployed individuals in the country in April, which was 1,000 more than in March and 6,000 more than in April 2022.
The unemployment rate in the EU in April 2023 was 6.0%, remaining unchanged compared to the previous month. In annual comparison, it decreased by 0.1 percentage points.
According to Eurostat, in January 2022, the overall unemployment rate in the European Union was 6.1%. The lowest rate was recorded in the Czech Republic, where only 2.5% of the working-age population was unemployed. The highest unemployment rate in January was in Spain, at 13%.
Poland had the second-lowest unemployment rate in the EU in January of this year, at 2.8%. According to the Polish Ministry of Family and Social Policy, this rate was 2.9% in the neighboring country in December of the previous year.
"The EU statistical office has once again confirmed the good and stable situation in the Polish labor market," stated Marlena Maląg, the head of the office. "As we have repeatedly proven, Poland is capable of withstanding global crises. The pandemic that engulfed the world led to incredible unemployment in many countries, but it did not harm Poland in this regard. Another test was the war in Ukraine. We passed the test of humanity by providing job opportunities for the citizens of this country while protecting the Polish labor market."
It is worth noting that more than 80% of Ukrainian adults who moved to Poland during the war with Russia have already found employment there.
Apart from the Czech Republic and Poland, the lowest unemployment rates in the EU in January were in Germany and Malta (both at 3%) and Slovenia (3.2%). Spain had the highest unemployment rate in the EU in the first month of 2023 at 13%. Greece also had a double-digit rate of 10.8%, but unemployment was at least declining in this country (it was 12.4% in December 2022). It is expected that with the start of the summer tourist season, the situation in the labor markets of Spain and Greece will significantly improve.