Euro Area Jobless Rate Lowest in Near 10 Years

The unemployment rate in the Euro Area came in at 8.2 percent in July of 2018, the same as in the previous month and the lowest rate since November of 2008. It came in line with market expectations. A year earlier, the unemployment rate was higher at 9.1 percent.

Considering the EU28, the unemployment rate edged down to 6.8 percent from 6.9 percent in June and from 7.6 percent in July 2017. This is the lowest rate since April of 2008. 

16.823 million people in the EU28, of whom 13.381 million in the Euro Area, were unemployed in July 2018, down by 82 000 in the EU28 and by 73 000 in the Euro Area from the previous month. Compared with July 2017, unemployment fell by 1.949 million in the EU28 and by 1.368 million in the Euro Area.

Among the Member States, the lowest unemployment rates in July 2018 were recorded in the Czech Republic (2.3 percent), Germany (3.4 percent) and Poland (3.5 percent). The highest unemployment rates were observed in Greece (19.5 percent in May 2018) and Spain (15.1 percent). Compared with a year ago, the unemployment rate fell in all Member States. The largest decreases were registered in Cyprus (from 10.7 percent to 7.7 percent), Greece (from 21.7 percent to 19.5 percent between May 2017 and May 2018), Portugal (from 8.9 percent to 6.8 percent) and Croatia (from 10.9 percent to 8.8 percent).

Euro Area Jobless Rate Lowest in Near 10 Years

Eurostat | Joana Taborda |
8/31/2018 9:38:13 AM