Eurozone Jobless Rate Steady At Over 8-Year Low

The unemployment rate in the Euro Area came in at 9.3 percent in May 2017, unchanged from the previous month's figure and slightly above market expectations of 9.2 percent. The jobless rate remained at its lowest level since March 2009. A year earlier, the unemployment was higher at 10.2 percent.

Compared with April 2017, the number of unemployed decreased by 5,000 to 15.034 million in the Euro Area. Compared with the previous year, it fell by 1.428 million.

Considering the European Union, the unemployment rate was 7.8 percent in May 2017, the same as in the previous month and down from 8.7 percent a year ago. This remains the lowest rate recorded in the EU28 since December 2008. There were 19.115 million people unemployed, a decrease of 22,000 from the previous month and of 2.122 million from May 2016.

Among EU Member States, the lowest unemployment rates in May 2017 were recorded in the Czech Republic (3 percent), Germany (3.9 percent) and Malta (4.1 percent). The highest unemployment rates were observed in Greece (22.5 percent in March 2017) and Spain (17.7 percent). Compared with a year ago, the unemployment rate in May 2017 fell in all Member States for which data is comparable over time. The largest decreases were registered in Croatia (to 10.7 percent from 13.4 percent), Spain (to 17.7 percent from 20.2 percent) and Ireland (to 6.4 percent from 8.4 percent).

The youth unemployment rate was 16.9 percent in the EU28 and 18.9 percent in the euro area, compared with 19 percent and 21.3 percent respectively in May 2016. In May 2017, the lowest rate was observed in Germany (6.7 percent), while the highest were recorded in Greece (46.6 percent in March 2017), Spain (38.6 percent) and Italy (37 percent).

Eurozone Jobless Rate Steady At Over 8-Year Low

Eurostat | Joana Ferreira |
7/3/2017 9:27:23 AM