In August 2023, the euro area seasonally-adjusted unemployment rate was 6.4%, down from 6.7% in August 2022. The EU unemployment rate was 5.9% in August 2023, down from 6.1% in August 2022, according to Eurostat, the statistical office of the European Union.

When compared to the previous month, the euro area seasonally-adjusted unemployment rate was down from 6.5% in July 2023 while the EU unemployment rate was down from 6.0% in July 2023.

Eurostat estimates that 12.83 million persons in the EU, of whom 10.85 million in the euro area, were unemployed in August 2023. Compared with July 2023, unemployment decreased by 112,000 in the EU and by 107,000 in the euro area. Compared with August 2022, unemployment decreased by 335,000 in the EU and by 407,000 in the euro area.

The lowest unemployment rate in August was seen in Czechia (2.5%) while the highest was recorded in Spain (11.5%).

Further data from Eurostat showed that in August 2023, the unemployment rate for women was 6.2% in the EU, stable compared with July 2023 and down from 6.5% in August 2022.

The unemployment rate for men was 5.7% in August 2023, also stable compared with the previous month and down from 5.8% in August 2022.

In the euro area, the unemployment rate for women was 6.7%, down from 6.8% in July 2023, and down from 7.2% in August 2022. The unemployment rate for men was 6.1%, also down from 6.2% in the previous month and down from 6.3% the year prior.

In August 2023, 2.68 million young persons (under 25) were unemployed in the EU, of whom 2.19 million were in the euro area.

In August 2023, the youth unemployment rate was 14.0% in the EU, stable compared with July 2023, and 13.8% in the euro area, down from 13.9% in the previous month. When compared to the previous year, the youth unemployment rate in the euro area was down from 15.0% in August 2022. In the EU, the rate was down from 14.9% the year prior.