Euro Area Unemployment rate at 10.7%


The euro area (EA17) seasonally-adjusted unemployment rate was 10.7% in January 2012, compared with 10.6% in December 2011. It was 10.0% in January 2011.

Eurostat estimates that 24.325 million men and women in the EU27, of whom 16.925 million were in the euro area, were unemployed in January 2012. Compared with December 2011, the number of persons unemployed increased by 191 000 in the EU27 and by 185 000 in the euro area. Compared with January 2011, unemployment rose by 1.488 million in the EU27 and by 1.221 million in the euro area.

Among the Member States, the lowest unemployment rates were recorded in Austria (4.0%), the Netherlands (5.0%) and Luxembourg (5.1%), and the highest in Spain (23.3%), Greece (19.9% in November 2011), Ireland and Portugal (both 14.8%).

Compared with a year ago, the unemployment rate fell in ten Member States, remained unchanged in two and rose in fifteen Member States. The largest falls were observed in Latvia (18.2% to 14.7% between the third quarters of 2010 and 2011), Lithuania (17.5% to 14.3% between the fourth quarters of 2010 and 2011) and Estonia (13.9% to 11.7% between the fourth quarters of 2010 and 2011). The highest increases were registered in Greece (14.1% to 19.9% between November 2010 and November 2011), Cyprus (6.3% to 9.6%) and Spain (20.6% to 23.3%).

In January 2012, 5.507 million young persons (under 25) were unemployed in the EU27, of whom 3.314 million were in the euro area. Compared with January 2011, youth unemployment increased by 269 000 in the EU27 and by 141 000 in the euro area. In January 2012, the youth unemployment rate was 22.4% in the EU27 and 21.6% in the euro area. In January 2011 it was 21.1% and 20.6% respectively. The lowest rates were observed in Germany (7.8%), Austria (8.9%) and the Netherlands (9.0%), and the highest in Spain (49.9%), Greece (48.1% in November 2011) and Slovakia (36.0%).


TradingEconomics.com, Eurostat
3/1/2012 11:29:42 AM