Euro Area Unemployment Lowest in Almost 3 Years


The Euro area seasonally-adjusted unemployment rate was 11.2 percent in January of 2015, down from a revised 11.3 percent in December 2014, and from 11.8 percent in January 2014. It is the lowest rate since April 2012.

Eurostat estimates that 23.815 million men and women in the EU28, of whom 18.059 million were in the euro area, were unemployed in January 2015. Compared with December 2014, the number of persons unemployed decreased by 156 000 in the EU28 and by 140 000 in the euro area. Compared with January 2014, unemployment fell by 1.820 million in the EU28 and by 896 000 in the euro area.

Among the Member States, the lowest unemployment rates in January 2015 were recorded in Germany (4.7 percent) and Austria (4.8 percent), and the highest in Greece (25.8 percent in November 2014) and Spain (23.4 percent).

Compared with a year ago, the unemployment rate in January 2015 fell in twenty-four Member States, remained stable in Belgium and increased in Cyprus (15.7 percent to 16.1 percent), Finland (8.4 percent to 8.8 percent) and France (10.1 percent to 10.2 percent). The largest decreases were registered in Spain (25.5 percent to 23.4 percent), Estonia (8.5 percent to 6.4 percent) and Ireland (12.1 percent to 10.0 percent). 

In January 2015, 4.889 million young persons (under 25) were unemployed in the EU28, of whom 3.281 million were in the euro area. Compared with January 2014, youth unemployment decreased by 562 000 in the EU28 and by 259 000 in the euro area. In January 2015, the youth unemployment rate5 was 21.2 percent in the EU28 and 22.9 percent in the euro area, compared with 23.3 percent and 24.3 percent respectively in January 2014. In January 2015, the lowest rates were observed in Germany (7.1 percent), Austria (8.2 percent) and Denmark (10.8 percent), and the highest in Spain (50.9 percent), Greece (50.6 percent in November 2014), Croatia (44.1 percent in the fourth quarter 2014) and Italy (41.2 percent).

Euro Area Unemployment Lowest in Almost 3 Years


Eurostat | Carolina Cunha | carolina.cunha@tradingeconomics.com
3/2/2015 1:18:51 PM