Euro Area Jobless Rate Remains At 3-Year Low



The seasonally-adjusted unemployment rate in the Eurozone remained unchanged at 11.1 percent in May of 2015 compared with previous month but lower compared to 11.6 percent reported in May of 2014.

The EU28 unemployment rate was 9.6 percent in May 2015, also stable compared with April 2015 and down from 10.3 percent in May 2014. This is the lowest rate recorded in the EU28 since July 2011.

Eurostat estimates that 23.348 million men and women in the EU28, of whom 17.726 million in the euro area, were unemployed in May 2015. Compared with April 2015, the number of persons unemployed decreased by 38 000 in the EU28 and by 35 000 in the euro area. Compared with May 2014, unemployment fell by 1.575 million in the EU28 and by 939 000 in the euro area

Among the Member States, the lowest unemployment rate in May 2015 was recorded in Germany (4.7 percent), and the highest in Greece (25.6 percent in March 2015) and Spain (22.5 percent). Compared with a year ago, the unemployment rate in May 2015 fell in twenty-two Member States, increased in five and remained stable in Cyprus. The largest decreases were registered in Lithuania (8.2 percent from 11 percent), Spain (22.5 percent from 24.7 percent) and Ireland (9.8 percent from 11.7 percent). The increases were registered in Belgium (8.6 percent from 8.4 percent), France (10.3 percent from 10.1 percent), Romania (7.1 percent from 6.8 percent), Austria (6 percent from 5.6 percent) and Finland (9.4 percent from 8.6 percent).

In May 2015, 4.707 million young persons (under 25) were unemployed in the EU28, of whom 3.136 million were in the euro area. Compared with May 2014, youth unemployment decreased by 450 000 in the EU28 and by 300 000 in the euro area. The youth unemployment rate was 20.6 percent in the EU28 and 22.1 percent in the euro area, compared with 22.2 percent and 23.8 percent respectively in May 2014. The lowest rates were observed in Germany (7.1 percent), Denmark (10 percent) and Austria (10.1 percent), and the highest in Greece (49.7 percent in March 2015), Spain (49.3 percent), Croatia (43.6 percent in the first quarter 2015) and Italy (41.5 percent).

Euro Area Jobless Rate Remains At 3-Year Low


Eurostat | joana.ferreira@tradingeconomics.com
7/16/2015 11:36:36 AM