Euro Area Unemployment Rate at 3-1/2-Year Low

The jobless rate in the Eurozone fell to 10.9 percent in July of 2015 from 11.1 percent in the previous three months. It is the lowest figure since February of 2012.

In the European Union, unemployment rate was 9.5 percent in July, down from 9.6 percent in June, the lowest since June of 2011. 

Eurostat estimates that 23.067 million persons in the EU 28, of whom 17.532 million in the Euro Area, were unemployed in July 2015. Compared with June, the number of persons unemployed decreased by 232 000 in the EU 28 and by 213 000 in the Euro Area. Compared with July 2014, unemployment fell by 1.648 million in the EU 28 and by 1.116 million in the Euro Area.

Among the Member States, the lowest unemployment rates in July 2015 were recorded in Germany (4.7 percent), the Czech Republic and Malta (both 5.1 percent), and the highest in Greece (25.0 percent in May 2015) and Spain (22.2 percent).

Compared with a year ago, the unemployment rate in July 2015 fell in twenty-three Member States, increased in three and remained stable in Belgium and Romania. The largest decreases were registered in Bulgaria (11.5 percent to 9.4 percent), Spain (24.3 percent to 22.2 percent), Greece (27.0 percent to 25.0 percent between May 2014 and May 2015), Portugal (14.1 percent to 12.1 percent), Ireland (11.3 percent to 9.5 percent) and Croatia (16.9 percent to 15.1 percent). The increases were registered in Finland (8.7 percent to 9.7 percent), France (10.3 percent to 10.4 percent) and Austria (5.7 percent to 5.8 percent).

Euro Area Unemployment Rate at 3-1/2-Year Low

Eurostat | Joana Taborda |
9/1/2015 10:14:45 AM