The unemployment rate in the European Union and the euro area fell slightly in October 2022, and Croatia followed this trend, levelling with the euro area average, a Eurostat report showed on Thursday.

The EU unemployment rate was 6.0% in October 2022, down from 6.1% in September 2022 and from 6.6% in October 2021. The euro area rate was 6.5% in October 2022, down from 6.6% in September 2022 and from 7.3% in October 2021.

Eurostat estimates that 12.953 million men and women in the EU, of whom 10.872 million in the euro area, were unemployed in October 2022. Compared with October 2021, unemployment decreased by 1.158 million in the EU and by 1.053 million in the euro area.

Croatia alongside Finland

Spain and Greece were the only member states with two-digit unemployment rates, of 12.5% and 11.6% respectively.

Croatia’s unemployment rate in October 2022 stood at 6.5%, down from 6.6% in September 2022 and from 6.9% in October 2021.

In October 2022, 118,000 Croatian citizens were jobless, 1,000 fewer than in September 2022 and 8,000 fewer than in October 2021.

Closest to Croatia was Finland with an unemployment rate of 6.8%.

The lowest rates were observed in the Czech Republic (2.1%), Germany and Poland (both 3.0%), Malta (3.1%), Hungary (3.6%) and the Netherlands (3.7%).

Youth unemployment

In October 2022, the youth unemployment rate was 15.1% in the EU and 15.0% in the euro area, both down from 15.2% in September 2022.

In October 2022, 2.872 million young persons (under 25) were unemployed in the EU, of whom 2.326 million were in the euro area. Compared with October 2021, youth unemployment increased by 102,000 in the EU and by 81,000 in the euro area.

The highest youth unemployment rates were reported by Spain (32.3%), Greece (27.3%), Italy (23.9%) and Sweden (21.6%). The lowest rates were observed in the Czech Republic (5.7%), Germany (5.8%), the Netherlands (7.8%), Malta (8.1%) and Hungary (9.5%).

Croatia, Belgium, Cyprus, Romania and Slovenia are not required to provide monthly data on unemployment, but only on a quarterly basis.

In Q3 2022, Croatia had a youth unemployment rate of 17.4%, with 25,000 young people out work. In September 2022, the rate was 15.5%, with 23,000 young people unemployed.