Euro Area Unemployment Rate Steady in February


The euro area seasonally-adjusted unemployment rate was 11.9 percent in February 2014, unchanged from a downward revised 11.9 percent in January and steady since October of 2013. It was 12.0 percent in February of 2013.

The EU 28 unemployment was 10.6 percent in February of 2014, down from 10.7 percent in January and 10.9 percent in February of 2013. 

Eurostat estimates that 25.920 million men and women in the EU28, of whom 18.965 million were in the euro area, were unemployed in February 2014. Compared with January 2014, the number of persons unemployed decreased by 65 000 in the EU28 and by 35 000 in the euro area. Compared with February 2013, unemployment decreased by 619 000 in the EU28, and by 166 000 in the euro area. 

Among the Member States, the lowest unemployment rates were recorded in Austria (4.8 percent), Germany (5.1 percent) and Luxembourg (6.1 percent), and the highest in Greece (27.5 percent in December 2013) and Spain (25.6 percent). 

Compared with a year ago, the unemployment rate increased in eleven Member States, fell in fifteen and remained stable in Romania and Sweden. The highest increases were registered in Cyprus (14.7 percent to 16.7 percent), Greece (26.3 percent to 27.5 percent between December 2012 and December 2013), Italy (11.8 percent to 13.0 percent) and the Netherlands (6.2 percent to 7.3 percent). 

The largest decreases were observed in Hungary (11.2 percent to 8.3 percent between January 2013 and January 2014), Latvia (13.8 percent to 11.6 percent between the fourth quarters of 2012 and 2013), Portugal (17.5 percent to 15.3 percent), and Ireland (13.7 percent to 11.9 percent).  


Euro Area Unemployment Rate Steady in February


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
4/1/2014 9:33:11 AM