Eurozone Youth Unemployment Falls Despite Total Jobless Rate Holding Steady

The eurozone witnessed a slight drop in unemployment in May as the region's jobless rate for under 25s fell to 23.3%.

According to Eurostat, the official research body of the European Commission, the unemployment rate for young people was down from 23.4% in April.

But the eurozone's average is still behind the UK's youth unemployment rate of 18.5% in the three months to April and Germany's rate of 7.9% over the same period.

Eurostat also revealed that the economic region's total unemployment rate remained at 11.6% in May.

The research body explained that there were more than 18.5 million unemployed people in the eurozone in May as the number of jobless persons dropped by 28,000 compared to April.

In addition, there were more than 3.3 million young people out of work across the eurozone in May as the region faces a "lost generation" of workers.

Eurostat also found that the jobless rate for men in the eurozone dropped in May as the rate dipped to 11.5%, down from 11.6% in April.

But the unemployment rate for women across the economic region held at 11.7% over the same period.