Euro Area Jobless Unchanged at 9.1%


The unemployment rate in the Euro Area was steady at 9.1 percent in August of 2017, the same as in the previous two months but slightly higher than market expectations of 9 percent. It is the lowest jobless rate since February of 2009. A year earlier, the unemployment rate was higher at 9.9 percent.

Compared with July of 2017, the number of unemployed persons decreased by 42,000 to 14.751 million. Compared with the previous year, it fell by 1.319 million.

Considering the European union, the unemployment declined to 7.6 percent from 7.7 percent in July and 8.5 percent a year earlier. There were 18.747 million unemployed persons, down by 104,000 from the previous month and by 1.923 million from the previous year.  

Among the Member States, the lowest unemployment rates in August 2017 were recorded in the Czech Republic (2.9 percent), Germany (3.6 percent) and Malta (4.2 percent). The highest unemployment rates were observed in Greece (21.2 percent in June 2017) and Spain (17.1 percent). Compared with a year ago, the unemployment rate fell in all Member States for which data is comparable over time, except Finland where it remained stable. The largest decreases were registered in Cyprus (from 13.1 percent to 10.7 percent), Greece (from 23.5 percent to 21.2 percent between June 2016 and June 2017) and Spain (from 19.3 percent to 17.1 percent).

In August 2017, 3.754 million young persons (under 25) were unemployed in the EU28, of whom 2.668 million were in the Euro Area. Compared with August 2016, youth unemployment decreased by 426 000 in the EU28 and by 240 000 in the Euro Area. In August 2017, the youth unemployment rate was 16.7 percent in the EU28 and 18.9 percent in the Euro Area, compared with 18.5 percent and 20.6 percent respectively in August 2016. In August 2017, the lowest rate was observed in Germany (6.4 percent), while the highest were recorded in Greece (43.3 percent in June 2017), Spain (38.7 percent) and Italy (35.1 percent).

Euro Area Jobless Unchanged at 9.1%


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
10/2/2017 9:19:01 AM