Euro Area Unemployment Rate Unchanged at 11.1%


The seasonally-adjusted unemployment rate in the Eurozone remained unchanged at 11.1 percent in June of 2015 compared with previous month but lower compared to 11.6 percent reported in June of 2014. It is the lowest in 3 years.

The EU28 unemployment rate was 9.6 percent in June 2015, also stable compared with May 2015 and down from 10.2 percent in June 2014. This is the lowest rate recorded in the EU28 since July 2011.

Eurostat estimates that 23.296 million men and women in the EU28, of whom 17.756 million in the euro area, were unemployed in June 2015. Compared with May 2015, the number of persons unemployed decreased by 32 000 in the EU28 and increased by 31 000 in the euro area. Compared with June 2014, unemployment fell by 1.448 million in the EU28 and by 811 000 in the euro area.

Among the Member States, the lowest unemployment rates were recorded in Germany (4.7 percent) and the Czech Republic (4.9 percent), and the highest in Greece (25.6 percent in April 2015) and Spain (22.5 percent). Compared with a year ago, the unemployment rate fell in twenty-one Member States, increased in five and remained stable in both France and Cyprus. The largest decreases were registered in Lithuania (8.5 percent from 10.9 percent), Spain (22.5 percent from 24.5 percent) and Portugal (12.4 percent from 14.3 percent). The increases were registered in Belgium (8.6 percent from 8.4 percent), Romania (7 percent from 6.8 percent), Italy (12.7 percent from 12.4 percent), Austria (6 percent from 5.7 percent) and Finland (9.5 percent from 8.6 percent).

In June 2015, 4.724 million young persons (under 25) were unemployed in the EU28, of whom 3.181 million were in the euro area. Compared with June 2014, youth unemployment decreased by 386 000 in the EU28 and by 225 000 in the euro area. In June 2015, the youth unemployment rate was 20.7 percent in the EU28 and 22.5 percent in the euro area, compared with 22.1 percent and 23.6 percent respectively a year earlier. The lowest rates were observed in Germany (7.1 percent), Malta (10 percent), Estonia (10.1 percent in May 2015), Denmark and Austria (both 10.3 percent), and the highest in Greece (53.2 percent in April 2015), Spain (49.2 percent), Italy (44.2 percent) and Croatia (43.1 percent in the second quarter 2015).

Euro Area Unemployment Rate Unchanged at 11.1%


Eurostat | joana.ferreira@tradingeconomics.com
7/31/2015 10:15:38 AM