Euro Area Unemployment Rate Steady at 11.5%


The Euro Area seasonally-adjusted unemployment rate was 11.5% in November, unchanged since June of 2014 and the lowest since September of 2012.

Among the Member States, the lowest unemployment rates in November 2014 were recorded in Austria (4.9%) and Germany (5.0%), and the highest in Greece (25.7% in September 2014) and Spain (23.9%).

The European Union (EU28) unemployment rate was 10.0% in November, down from 10.1% in October and from 10.7% in November 2013. Compared with a year ago, the unemployment rate fell in twenty-two Member States, increased in four and remained stable in Belgium and Slovenia. The largest decreases were registered in Greece (28.0% to 25.7% between September 2013 and September 2014), Hungary (9.5% to 7.4% between October 2013 and October 2014) and Spain (25.8% to 23.9%), and the highest increases in Italy (12.5% to 13.4%) and Finland (8.3% to 8.9%). 

In November, 24.423 million men and women in the EU28, of whom 18.394 million were in the Euro Area, were unemployed in November 2014. Compared with October, the number of persons unemployed decreased by 19 000 in the EU28 and increased by 34 000 in the Euro Area. Compared with November 2013, unemployment fell by 1.487 million in the EU28 and by 522 000 in the Euro Area.

During the same period, 5.101 million young persons (under 25) were unemployed in the EU28, of whom 3.409 million were in the Euro Area. Compared with last year, youth unemployment decreased by 354 000 in the EU28 and by 58 000 in the Euro Area. The lowest rates were observed in Germany (7.4%), Austria (9.4%) and the Netherlands (9.7%), and the highest in Spain (53.5%), Greece (49.8% in September 2014), Croatia (45.5% in the third quarter 2014) and Italy (43.9%). 

Euro Area Unemployment Rate Steady at 11.5%


Eurostat | Nuno Fontes | nuno@tradingeconomics.com
1/7/2015 11:00:00 AM