July 31, 2020, 01.13 PM

BRUSSELS, KOMPAS.com – The unemployment rate in the EU rose slightly in June while consumer confidence improved as lockdowns over the Covid-19 virus eased.

The small rise in unemployment figures applies in both the Eurozone and the broader EU, based on official figures presented on Thursday.

In the 19-nation single currency bloc, the seasonally-adjusted unemployment rate reached 7.8 percent, up from 7.7 in May. In the 27-member union, it was 7.1 percent, up from 7.0.

But the Eurostat agency warned that its method of calculating unemployment may not take into account the true scale of job losses caused by the coronavirus epidemic and its attendant economic lockdowns.

Read also: EU Leaders Seal the Deal on $2.1 Trillion Coronavirus Recovery Fund

Eurostat uses the International Labour Organisation definition of the unemployed as people who have been actively seeking work in the last four weeks and are available to start in the next two.

"At the same time, a significant part of those who had registered in unemployment agencies were no longer actively looking for a job, e.g. limited by the confinement measures or no longer available for work, for instance, if they had to take care of their children during the lockdown," Eurostat said.

"This leads to discrepancies in the number of registered unemployed and those measured as unemployed according to the ILO definition."

Eurostat estimates that 15.023 million people are unemployed in the EU, 12.685 million of them in the euro area.

Separately, the European Commission's ESI consumer confidence estimate or "Economic Sentiment Indicator" continued to improve in July after hitting a historic low in April.

Having been stable at roughly 100 points before the crisis, the ESI fell to 54.8 points in April and has now made up around half of its losses to 82.3 points in the eurozone.

(Writer & Editor: Agence France-Presse) 

Source: http://u.afp.com/38sW 

Dapatkan update berita pilihan dan breaking news setiap hari dari Kompas.com. Mari bergabung di Grup Telegram "Kompas.com News Update", caranya klik link https://t.me/kompascomupdate, kemudian join. Anda harus install aplikasi Telegram terlebih dulu di ponsel.



Latest Video Video Lainnya >

Recommendation
Comment wisely and responsibly. Comments are entirely the responsibility of the commentator as regulated in the ITE Law
Report
Thank You! We have received your report. We will remove comments that conflict with the Community Guidelines and the ITE Law.

More Headlines

News
November 24, 2022, 05.14 PM

Malaysia: Opposition Leader Anwar Ibrahim Named PM

News
November 18, 2022, 10.31 PM

Indonesia Reports over 6,600 Daily Covid-19 Cases

News
November 18, 2022, 09.57 PM

6.9-Magnitude Quake Strikes Off Western Indonesia

Business
November 17, 2022, 05.34 PM

Indonesia, China Renew Economic and Trade Expansion Pact

Close Ads