Euro Area Jobless Rate Steady at 7.9% in December


The Euro Area seasonally-adjusted unemployment rate was at 7.9 percent in December 2018, unchanged from the previous month and in line with market expectations. It remained the lowest jobless rate since October 2008.

Compared with November, the number of unemployed in the Euro Area declined by 75,000 to 12.919 million. Compared with the previous year, it dropped by 1,174 million.

Considering the European Union as a whole, the unemployment rate stood at 6.6 percent in December, the same as in the previous month and down from 7.2 percent a year earlier. It remained the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000. There were 16.306 million people unemployed, a decline of 75,000 from the previous month and of 1.533 million from December 2017.

Among EU Member States, the lowest jobless rates in December were recorded in Czechia (2.1 percent), Germany (3.3 percent), Poland (3.5 percent) and the Netherlands (3.6 percent). The highest unemployment rates were registered in Greece (18.6 percent in October 2018), Spain (14.3 percent) and Italy (10.3 percent). Compared with a year ago, the largest decreases were seen in Greece (18.6 percent from 21.0 percent between October 2017 and October 2018), Spain (14.3 percent from 16.5 percent) and Croatia (7.7 percent from 9.7 percent). 

The youth unemployment rate was 14.9 percent in the EU28 and 16.6 percent in the Euro Area, compared with 16.1 percent and 17.8 percent respectively in December 2017. The lowest rates were observed in Czechia (5.8 percent), Germany (6.0 percent) and the Netherlands (6.6 percent), while the highest were registered in Greece (38.5 percent in October 2018), Spain (32.7 percent) and Italy (31.9 percent).

 Euro Area Jobless Rate Steady at 7.9% in December


Eurostat | Stefanie Moya | stefanie.moya@tradingeconomics.com
1/31/2019 10:27:52 AM