Euro Area Unemployment Rate at 12% in December



The Euro Area unemployment rate was 12.0 percent in December of 2013, stable since October. It was 11.9 percent in December of 2012. The EU28 jobless rate was 10.7 percent in December, down from 10.8 percent in November. Eurostat estimates that 26.200 million men and women in the EU 28, of whom 19.010 million were in the euro area, were unemployed in December 2013.

Among the Member States, the lowest unemployment rates were recorded in Austria (4.9 percent), Germany (5.1 percent) and Luxembourg (6.2 percent), and the highest in Greece (27.8 percent in October 2013) and Spain (25.8 percent). 

Compared with a year ago, the unemployment rate increased in fourteen Member States, fell in thirteen and remained stable in Sweden. The highest increases were registered in Cyprus (13.9 percent to 17.5 percent), Greece (26.1 percent to 27.8 percent between October 2012 and October 2013), the Netherlands (5.8 percent to 7.0 percent) and Italy (11.5 percent to 12.7 percent).

The largest decreases were observed in Ireland (14.0 percent to 12.1 percent), Latvia (14.0 percent to 12.1 percent between the third quarters of 2012 and 2013), Portugal (17.3 percent to 15.4 percent), Hungary (11.0 percent to 9.3 percent between November 2012 and November 2013) and Lithuania (13.0 percent to 11.4 percent). 

In December 2013, the unemployment rate in the United States was 6.7 percent, down from 7.0 percent in November 2013 and from 7.9 percent in December 2012.  

In December 2013, 5.544 million young persons were unemployed in the EU 28, of whom 3.500 million were in the euro area. The youth unemployment rate was 23.2 percent in the EU28 and 23.8 percent in the euro area, compared with 23.6 percent and 23.9 percent respectively in December 2012. 

In December 2013, the lowest rates were observed in Germany (7.4 percent) and Austria (8.9 percent), and the highest in Greece (59.2 percent in October 2013), Spain (54.3 percent) and Croatia (49.2 percent in the fourth quarter of 2013).  


Euro Area Unemployment Rate at 12% in December


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
1/31/2014 10:25:41 AM