Eurozone Jobless Rate Steady at 5-Year Low


The seasonally adjusted unemployment rate in the Euro Area came in at 10.1 percent in June 2016 unchanged from the May rate and down from 11 percent a year earlier, remaining at the lowest level since July 2011. Among the Member States, the lowest unemployment rates were recorded in Malta (4 percent), Czech Republic (4.1 percent) and Germany (4.2 percent); while the highest unemployment rates were observed in Greece (23.3 percent in April 2016) and Spain (19.9 percent).

The EU28 unemployment rate was 8.6 percent, stable compared to May 2016 and down from 9.5 percent in June 2015. This remains the lowest rate recorded in the EU28 since March 2009.

Eurostat estimates that 20.986 million men and women in the EU28, of whom 16.269 million were in the euro area, were unemployed. Compared with May 2016, the number of persons unemployed decreased by 91 000 in the EU28 and by 37 000 in the euro area. Compared with June 2015, unemployment fell by 2.114 million in the EU28 and by 1.363 million in the euro area.

Among the Member States, the lowest unemployment rates were recorded in Malta (4 percent), the Czech Republic (4.1 percent) and Germany (4.2 percent). The highest unemployment rates were observed in Greece (23.3 percent in April 2016) and Spain (19.9 percent). Compared with a year ago, the unemployment rate fell in twenty-five Member States, remained stable in Belgium and Estonia, while it increased in Austria (6.2 percent from 5.7 percent). The largest decreases were registered in Cyprus (11.7 percent from 15.1 percent), Croatia (13.2 percent from 16.2 percent), Bulgaria (7.2 percent from 9.7 percent) and Spain (19.9 percent from 22.3 percent).

There were 4.194 million young persons (under 25) unemployed in the EU28, of whom 2.915 million in the euro area. Compared with June 2015, youth unemployment decreased by 492 000 in the EU28 and by 248 000 in the euro area. The youth unemployment rate was 18.5 percent in the EU28 and 20.8 percent in the euro area, compared with 20.6 percent and 22.5 percent respectively in June 2015. In June 2016, the lowest rates were observed in Malta (6.9 percent) and Germany (7.2 percent), and the highest in Greece (47.4 percent in April 2016) and Spain (45.8 percent).

Eurozone Jobless Rate Steady at 5-Year Low


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
7/29/2016 10:13:18 AM