Euro Area Jobless Rate Steady at 7.8%


The seasonally adjusted unemployment rate in the Euro Area stood at 7.8 percent in February 2019, the same as the previous period and in line with market expectations. It remained the lowest jobless rate since October 2008. A year earlier, unemployment was higher at 8.5 percent.

Compared with January, the number of unemployed in the Euro Area dropped by 77,000 to 12,730 million. Compared with the previous year, it fell by 1.169 million.

Considering the European Union as a whole, the jobless rate was at 6.5 percent, unchanged from the previous month and lower than a 7.1 percent a year earlier. It remains the lowest rate recorded since the start of the EU monthly unemployment series in January 2000. The number of unemployed declined by 102,000 from January to 16.012 million and went down by 1.469 million from January of 2018.

Among the Member States, the lowest unemployment rates in February 2019 were registered in Czech Republic (1.9 percent), Germany (3.1 percent) and the Netherlands (3.4 percent) and the highest rates were observed in Greece (18.0 percent in December 2018), Spain (13.9 percent) and Italy (10.7 percent). Compared with a year ago, the unemployment rate decreased in all Member States except Denmark and Austria where it remained stable. The largest declines were registered in Greece (from 20.8 percent to 18.0 percent between December 2017 and December 2018), Cyprus (from 9.4 percent to 7.1 percent), and Estonia (from 6.4 percent to 4.2 percent).

The youth unemployment rate was 14.6 percent in the EU28 and 16.1 percent in the Euro Area, down from 15.7 percent and 17.7 percent respectively in February 2018. 3.309 million young persons (under 25) were unemployed in the EU28, of whom 2.337 million were in the Euro Area. Compared with February 2018, youth unemployment fell by 222,000 in the EU28 and by 181,000 in the Euro Area. The lowest rates were recorded in Germany (5.6 percent), Czech Republic (6.0 percent) and the Netherlands (6.4 percent), while the highest were observed in Greece (39.5 percent in December 2018), Italy (32.8 percent) and Spain (32.4 percent).

 Euro Area Jobless Rate Steady at 7.8%


Eurostat | Stefanie Moya | stefanie.moya@tradingeconomics.com
4/1/2019 9:22:42 AM