Euro Area Unemployment Edges Down to 16-Month Low


In April, the Euro Area seasonally-adjusted unemployment rate was 11.7 percent, down from 11.8 percent in March and from 12.0 percent in April of 2013. This is the lowest value since December of 2012. The youth unemployment rate was 23.5 percent, down from 23.9 percent a year earlier.

Among the Member States, the lowest unemployment rates were recorded in Austria (4.9 percent), Germany (5.2 percent) and Luxembourg (6.1 percent), and the highest in Greece (26.5 percent in February 2014) and Spain (25.1 percent). 

Compared with a year ago, the unemployment rate fell in eighteen Member States, remained stable in two and increased in eight. The largest decreases were registered in Hungary (10.6 percent to 7.8 percent between March 2013 and March 2014), Portugal (17.3 percent to 14.6 percent) and Ireland (13.7 percent to 11.9 percent), and the highest increases in Cyprus (15.6 percent to 16.4 percent) and the Netherlands (6.5 percent to 7.2 percent). 

The lowest youth unemployment rates were observed in Germany (7.9 percent), Austria (9.5 percent) and the Netherlands (11.0 percent), and the highest in Greece (56.9 percent in February 2014), Spain (53.5 percent) and Croatia (49.0 percent in the first quarter of 2014).

Euro Area Unemployment Edges Down to 16-Month Low


Eurostat | Nuno Fontes | nuno@tradingeconomics.com
6/3/2014 10:09:25 AM