Eurozone Unemployment Rate Unchanged at 9-Year Low

The unemployment rate in the Euro Area stood at to 8.6 percent in January 2018, unchanged from the previous month's nine-month low and below 9.6 percent a year earlier.

Compared with December, the number of unemployed in the Euro Area decreased by 10,000 to 14.111 million. Compared with the previous year, it fell by 1.429 million.

Considering the European Union, the unemployment rate stood at 7.3 percent in January, stable compared to the previous month and down from 8.1 percent a year ago. It was the lowest rate recorded in the EU28 since October 2008. There were 17.931 million people unemployed, a decrease of 19,000 from the previous month and of 1.867 million from January 2017.

Among EU Member States, the lowest unemployment rates in January were recorded in the Czech Republic (2.4 percent), Malta (3.5 percent) and Germany (3.6 percent). The highest unemployment rates were observed in Greece (20.9 percent in November 2017) and Spain (16.3 percent). Compared with a year ago, the largest decreases were registered in Cyprus (9.8 percent from 12.6 percent), Greece (20.9 percent in November 2017 from 23.3 percent in November 2016), Croatia (9.8 percent from 12.2 percent), Portugal (7.9 percent from 10.1 percent) and Spain (16.3 percent from 18.4 percent).

The youth unemployment rate was 16.1 percent in the EU28 and 17.7 percent in the Euro Area, compared with 17.6 percent and 19.9 percent respectively in January 2017. The lowest rates were observed in the Czech Republic (5.8 percent), Estonia (6.5 percent in December 2017) and Germany (6.6 percent), while the highest were recorded in Greece (43.7 percent in November 2017), Spain (36 percent) and Italy (31.5 percent).

Eurozone Unemployment Rate Unchanged at 9-Year Low

Eurostat | Joana Ferreira |
3/1/2018 10:12:14 AM