Euro Area Unemployment Rate at 11.2% in June


The euro area (EA17) seasonally-adjusted unemployment rate was 11.2% in June 2012, stable compared with May. It was 10.0% in June 2011.

The EU27 unemployment rate was 10.4% in June 2012, also stable compared with May. It was 9.5% in June 2011.

Eurostat estimates that 25.112 million men and women in the EU27, of whom 17.801 million were in the euro area, were unemployed in June 2012. Compared with May 2012, the number of persons unemployed increased by 127 000 in the EU27 and by 123 000 in the euro area. Compared with June 2011, unemployment rose by 2.165 million in the EU27 and by 2.024 million in the euro area.

Among the Member States, the lowest unemployment rates were recorded in Austria (4.5%), the Netherlands (5.1%), Germany and Luxembourg (both 5.4%), and the highest in Spain (24.8%) and Greece (22.5% in April
2012).

Compared with a year ago, the unemployment rate fell in seven Member States, increased in nineteen and remained stable in Sweden. The largest falls were observed in Estonia (13.6% to 10.9% between the first quarters of 2011 and 2012), Latvia (17.1% to 15.3% between the first quarters of 2011 and 2012) and Lithuania (15.4% to 13.7%). The highest increases were registered in Greece (16.2% to 22.5% between April 2011 and April 2012), Spain (21.2% to 24.8%) and Cyprus (7.6% to 10.5%).

In June 2012, 5.472 million young persons (under 25) were unemployed in the EU27, of whom 3.359 million were in the euro area. Compared with June 2011, youth unemployment rose by 227 000 in the EU27 and by 204 000 in the euro area. In June 2012, the youth unemployment rate was 22.6% in the EU27 and 22.4% in the euro area. In June 2011 it was 21.2% and 20.5% respectively. In June 2012 the lowest rates were observed in Germany (7.9%), Austria (8.8%) and the Netherlands (9.3%), and the highest in Greece (52.8% in April 2012) and Spain (52.7%).


TradingEconomics.com, Eurostat
8/1/2012 2:30:04 PM