Euro Area Unemployment Unchanged at 12.0% in August



In August, Euro Area's seasonally-adjusted unemployment rate was 12.0 percent, stable compared with July and up from 11.5 percent in August of 2012. Youth unemployment increased further to 23.3 percent from 23.1 percent a year earlier.

In August, 26.595 million men and women were unemployed in the European Union, of whom 19.178 million were in the Euro Area. Compared with July, the number of persons unemployed remained nearly stable in both the EU and the Euro Area. Compared with August 2012, unemployment rose by 882 000 in the EU and by 895 000 in the Euro Area. 

Among the Member States, the lowest unemployment rates were recorded in Austria (4.9 percent), Germany (5.2 percent) and Luxembourg (5.8 percent), and the highest in Greece (27.9 percent in June 2013) and Spain (26.2 percent). Compared with a year ago, the unemployment rate increased in sixteen Member States, fell in eleven and remained stable in Poland.

The highest increases were registered in Cyprus (12.3 percent to 16.9 percent) and Greece (24.6 percent to 27.9 percent between June 2012 and June 2013). The largest decreases were observed in Latvia (15.6 percent to 11.4 percent between the second quarters of 2012 and 2013) and Estonia (10.1 percent to 7.9 percent between July 2012 and July 2013). 

In August 2013, 5.499 million young persons (under 25) were unemployed in the european Union, of whom 3.457 million were in the Euro Area. Compared with August 2012, youth unemployment decreased by 123 000 in the EU and by 52 000 in the Euro Area. The lowest rates were observed in Germany (7.7 percent) and Austria (8.6 percent), and the highest in Greece (61.5 percent in June 2013), Spain (56.0 percent) and Croatia (52.0 percent in the second quarter of 2013). 

Euro Area Unemployment Unchanged at 12.0% in August


Eurostat | Nuno Fontes | nuno@tradingeconomics.com
10/1/2013 10:09:42 AM