Euro zone jobless edges up

3 July, 2020 12:00 AM printer

BRUSSELS: Unemployment in the euro zone edged up only slightly and by less than expected in May as lockdowns gradually eased, although the rise was more pronounced for women and youths.

The seasonally adjusted rate increased to 7.4% in May from 7.3% in April and 7.1% in March, the lowest level since records began in 1998. May brought the second consecutive monthly rise, but it was less than the market expectation of 7.7%, report agencies.

The only modest increase suggests furlough schemes providing temporary layoff are keeping many of those laid off during the COVID-19 pandemic out of the main unemployment records, although a number of these schemes will start to taper.