Eurozone unemployment falls June 2021 post pandemic - Unemployment falls again in June in the eurozone and most of the 27, while Spain ties with Greece in unemployment rate and continues to lead in youth unemployment.

The european labour market continued its recovery from the impact of the coronavirus, despite the fact that the total number of unemployed at the end of the second half of 2021 continues surpassing the figures that had in February of 2020, just prior to the outbreak of the pandemic, with the exception of France, Lithuania, which have less unemployed for 17 months, while Greece and Italy have an unemployment rate lower than it was before the pandemic, but also more unemployed people that then.

Thus, the corresponding figures for the month of June just released by Eurostat show that the unemployment rate has fallen 3 tenths from the previous month and in June 2020, reaching 7.7%, while that in the European Union as a whole has lost 2 tenths at a year-on-year as a mom, up 7.1%, as shown in the following chart, with 20 of the 27 eu members registering less unemployment than in may.

Eurozone unemployment falls June 2021 post pandemic

Thus, the unemployment rate has grown compared to May in Latvia and Hungary, in both cases by a tenth, while its changes have continued in Germany, Denmark, Malta, Finland and Sweden. As for Spain, it has a rate of 15.1%, the highest in the EU along with that of Greece, despite the fact that the Community statistical office notes a drop of 3 tenths in its unemployment rate and 92,000 unemployed less than in the previous month.

In fact, Spain has been the european country with the highest unemployment rate since September last year, although he had been tied with Greece on 2 previous occasions, in the months of October and November, to later lead solo as a community partner with more proportion of unemployment among its population active until the figures just released by Eurostat on Friday.

Eurozone unemployment falls June 2021 post pandemic

Meanwhile, Spain remains the EU country with the most youth unemployment, as it has been happening since August 2020 almost uninterruptedly, given that Greece surpassed Spain in March and April of this year. Thus, unemployment in Spain among children under 25 stands at 37.1%, half a percentage point less than in May but doubling the European and euro area averages and 6.5 percentage points above the Helena youth unemployment rate.

However, Eurostat employment figures show that, in absolute terms, in June there were 20,000 fewer unemployed young people in Spain than in the previous month, although also 25,000 more than 12 months ago. In addition, Spain is also the country with the most unemployed under 25 despite being the fourth most populous country in the EU, so that 1 in 5 unemployed young people in the Eu are Spanish, which also represent 23.6% of unemployed under 25 in the eurozone.

Eurozone unemployment falls June 2021 post pandemic

More news:

Calviño conditions raising the minimum wage in autumn to the recovery of employment and ensures that companies will begin to receive European funds next week

The Government maintains the calendar of reforms planned for the rest of the year in view of the rate of recovery of the Spanish economy, especially after the fall in unemployment during the second quarter, which materialized in 110,100 fewer unemployed and in the creation of more than one million jobs since June 2020, as confirmed on Thursday the Active Population Survey (EPA).

Specifically, the first vice president and Minister of Economy, Nadia Calviño, has reiterated the intention of the Executive to resume the increase of the minimum wage interprofessional (SMI), the negotiation for the labor reform and the maintenance of the social and economic shield in the face of the coronavirus crisis during the second half of the year, as he said in an interview to Five Days.

Calviño has reiterated that the Government is committed to the raising of the minimum wage, noting that it has risen 30% in 3 years and your goal is to pick up the pace of increase to 60% of the average wage, a commitment in the coalition agreement that it has been recognized that has been delayed by the impact of the pandemic. "My wish is that as soon as we can resume it, but without jeopardizing economic growth and job creation," he said.

The economic vice president stressed that since March growth has taken hold, placing the Spanish economy in a recovery phase that is more prominent in the labor market. Therefore, after the recovery of 9 out of 10 jobs lost during the pandemic, Calviño has conditioned the increase in the minimum wage to recover in autumn the level of employment lost due to the coronavirus.

In this way, Nadia Calviño has pointed out that the amount of the next rise of the SMI will depend on the negotiations with the social partners, following the proposal of the committee of experts commissioned by the Executive of designing the roadmap for achieving the 60% of the average wage in 2023 to increase between 12 and 19 euros this year, claiming unit to employers and unions to reduce inequality by creating quality employment and improving working conditions.

In terms of the labor reform, the first vice president has stated that it is necessary to reach an agreement before the end of the year to comply with what has been agreed with Brussels and has prioritized the reduction of temporality, the youth unemployment and precariousness, even if focusing on the changes in the creation of quality jobs, simplifying contracts, provide legal certainty to employers and workers and to "europeanize" the labor market, according to Five Days.

Regarding the measures of the social and economic shield against the coronavirus, Calviño has not confirmed whether there will be an extension of the ERTE in September and has indicated that the end of this regime must be channeled for a transition to a more flexible and stable permanent model, while he has ruled out a premature withdrawal of stimuli, diminishing the importance of late payments in credits guaranteed by the ICO and defending that in the coming months the bankruptcy reform is promoted.

As for European aid, Nadia Calviño has predicted that Community funds will begin to reach companies from next week, highlighting that the Government has already transferred 7,000 million euros to the communities and that there are no impediments for these aid to reach the business fabric, especially in the Canary Islands and the Balearic Islands, of which he has indicated that they are the ones who will receive the most money and the most advanced are in their development.