Euro Area Unemployment Rate at 10% in August


The euro area (EA17) seasonally-adjusted unemployment rate was 10.0% in August 2011, unchanged compared with July. It was 10.2% in August 2010.

The EU27 unemployment rate was 9.5% in August 2011, unchanged compared with July. It was 9.6% in August 2010.

Eurostat estimates that 22.785 million men and women in the EU27, of whom 15.739 million were in the euro area, were unemployed in August 2011. Compared with July 2011, the number of persons unemployed decreased by 62 000 in the EU27 and by 38 000 in the euro area. Compared with August 2010, unemployment fell by 300 000 in the EU27 and by 215 000 in the euro area.

Among the Member States, the lowest unemployment rates were recorded in Austria (3.7%), the Netherlands (4.4%) and Luxembourg (4.9%), and the highest in Spain (21.2%), Greece (16.7% in the second quarter of 2011) and Latvia (16.2% in the second quarter of 2011).

Compared with a year ago, the unemployment rate fell in sixteen Member States, increased in ten and remained stable in Romania. The largest falls were observed in Estonia (17.9% to 12.8% between the second quarters of 2010 and 2011), Latvia (19.4% to 16.2% between the second quarters of 2010 and 2011) and Lithuania (18.2% to 15.6% between the second quarters of 2010 and 2011). The highest increases were registered in Greece (12.1% to 16.7% between the second quarters of 2010 and 2011), Bulgaria (10.2% to 11.7%) and Cyprus (6.2% to 7.2%).

Between August 2010 and August 2011, the unemployment rate for males fell from 10.0% to 9.6% in the euro area and from 9.6% to 9.3% in the EU27. The female unemployment rate decreased from 10.4% to 10.3% in the euro area and remained stable at 9.7% in the EU27.

In August 2011, 5.139 million young persons (under-25s) were unemployed in the EU27, of which 3.129 million were in the euro area. Compared with August 2010, youth unemployment decreased by 107 000 in the EU27 and by 110 000 in the euro area. In August 2011, the youth unemployment rate was 20.9% in the EU27 and 20.4% in the euro area. In August 2010 it was 20.8% and 20.9% respectively. The lowest rates were observed in the Netherlands (7.5%), Austria (7.9%) and Germany (8.9%), and the highest in Spain (46.2%), Greece (42.9% in the second quarter of 2011) and Lithuania (33.2% in the second quarter of 2011).


TradingEconomics.com, Eurostat
9/30/2011 2:29:55 PM