“…Previous research has identified some macroeconomic factors that have an impact on unemployment levels, probably because of their links with economic activities [ 11 , 12 , 27 ]. Specifically [ 27 ], identified carbon (residue of oil) features price and policy uncertainties that can be used to observe economic situation or activities in Europe. The impact of these factors on unemployment rates has either been considered individually or as a combination of variables.…”