Euro Area Unemployment Rate at 4-1/2-Year Low

The seasonally-adjusted unemployment rate in the Eurozone came in at 10.3 percent in February of 2016 from an upwardly revised 10.4 percent in the previous month and matching market expectations. It is the lowest figure since August of 2011.

The EU28 unemployment rate was 8.9 percent in February 2016, unchanged from the previous month and the lowest since May of 2009. Among the Member States, the lowest unemployment rates were recorded in Germany (4.3 percent) and the Czech Republic (4.5 percent) and the highest in Greece (24.0 percent in December 2015) and Spain (20.4 percent). 

16.634 million people were unemployed in the Euro Area, down by 39000 from the previous month and 21.651 million had no job in the EU28, down by 59000.

Compared with a year earlier, unemployment decreased by 1.303 million in the Euro Area and by 1.971 million in the EU28. The unemployment rate fell in twenty-four Member States, remained stable in Belgium and increased in Austria (from 5.4 percent to 6.0 percent), Latvia (from 9.7 percent to 10.1 percent) and Finland (from 9.1 percent to 9.2 percent). The largest decreases were registered in Cyprus (from 16.6 percent to 12.6 percent), Spain (from 23.2 percent to 20.4 percent), and Bulgaria (from 9.8 percent to 7.4 percent).

4.381 million young persons (under 25) were unemployed in the EU28, of whom 3.011 million were in the Euro Area, bringing the youth unemployment rate to 19.4 percent (20.9 percent a year earlier) and 21.6 percent (22.7 percent in January) respectively.  The lowest rates were observed in Germany (6.9 percent), the Czech Republic (10.2 percent), Denmark (10.5 percent) and Malta (10.8 percent), and the highest in Greece (48.9 percent in December 2015), Spain (45.3 percent), Croatia (40.3 percent in the fourth quarter 2015) and Italy (39.1 percent).

Euro Area Unemployment Rate at 4-1/2-Year Low

Eurostat | Joana Taborda |
4/4/2016 10:17:49 AM