Eurozone Unemployment Continues to Tick Up

The unemployment rate has risen again in the Eurozone as the impact of the Coronavirus pandemic is still. Official figures put the unemployment rate in the region at 7.9% for July.

This comes after the Eurozone recorded an unemployment rate of 7.7% in June. The numbers draw a worsening picture but are still below the record low seen in the midst of the sovereign debt crisis.

The Eurozone suffers from a severe economic recession in the wake of the Coronavirus pandemic, as the 19-nation economy contracted by 12.1% in Q2 of the year after strict lockdown measures to prevent further pollution. The contraction was the worst since records began in 1995, according to Eurostat.