In November 2023, unemployment in the euro area decreased to the record low it reached last June, while in Croatia it was stable and equal to the average, a Eurostat report showed on Tuesday.

In the euro area, the unemployment rate was 6.4%, down from 6.5% in October, reaching the rate from last June, which was the lowest in the history of the euro area.

The EU unemployment rate was 5.9% in November 2023, down from 6% in October.

In November 2022, unemployment was 6.7% in the euro area and 6.1% in the EU.

Eurostat estimates that 12.954 million persons in the EU, of whom 10.970 million in the euro area, were
unemployed in November 2023.

Compared with October 2023, unemployment decreased by 144,000 in the EU and by 99,000 in the euro area. Compared with November 2022, unemployment decreased by over 280,000 in both areas.

In November 2023, Spain was the only country with a two-digit unemployment rate (11.9%), followed by Greece with 9.4%.

Croatia’s unemployment rate was 6.4%, the same as in October 2023. In November 2022, it was 6.8%. In November 2023, 109,000 Croatians were out of work, 1,000 fewer than in October. In November 2022, there were 117,000 jobless.

In November 2023, the lowest unemployment rates were observed in Czechia (2.4%), Malta (2.5%) and Poland (2.8%).

In November 2023, 2.814 million persons under 25 were unemployed in the EU, of whom 2.321 million were in the euro area.

The youth unemployment rate was 14.5% both in the EU and in the euro area, down from 14.8% in both regions in the previous month. Compared with November 2022, youth unemployment increased by one percentage point in the euro area, while being stable in the EU.

The highest youth unemployment rates in November 2023 were observed in Spain (27.9%), Greece (27.3%) and Portugal (23.5%), while the lowest were observed in Germany (5.6%) and Czechia (6.2%).

In the third quarter of last year, Croatia’s youth unemployment rate was 19% (23,000).