Unemployment in the euro zone rose for the fifth month in a row in August despite government aid measures due to the corona crisis and has reached its highest level since July 2018.
The rate was 8.1 percent, as the Eurostat statistics office announced on Thursday in Luxembourg.
The same trend had an impact on the EU’s unemployment rate, which reached 7.4% in August.
According to this, 15.603 million people were unemployed in the EU in August, 13.188 million of them in the euro area. Compared with July 2020, the number of unemployed rose by 238,000 in the EU and by 251,000 in the euro area.
Youth unemployment rate in August a staggering 18.1%
People under the age of 25 were particularly hit hard. In August the number of young unemployed rose by 64,000 in the EU and by 69,000 in the euro area.
Compared to 17.4% in the EU and 17.8% in the euro area in July 2020, the youth unemployment rate rose to 17.6% and 18.1% respectively in August 2020.
In Germany, the number of people in employment rose only slightly in August 2020 compared to the previous month and is still well below the pre-crisis level.
Bills piled up for five months
The unemployment rate for women rose slightly in August and stood at 7.6% across the EU, while that for men remained unchanged at 7.1%,
Anabela Santos is a single mother and worked as a kitchen helper. She says she has been unable to pay her bills since the restaurant closed five months ago. “Fortunately, I am now receiving unemployment benefits and can finally settle a few of the accumulated bills. But I have not yet found a new job.”
Economic experts predict unemployment to rise further in the coming months when government aid programs expire, while the rising number of infections in many countries will lead to new restrictions on public life.