Euro Area Jobless Rate Lowest Since January 2012


The seasonally-adjusted unemployment rate in the Eurozone decreased slightly to 10.8 percent in September of 2015 compared with previous month's downwardly revised level of 10.9 percent and from 11.5 percent reported in September of 2014. This was the lowest rate recorded since January of 2012.

The EU28 unemployment rate was 9.3 percent, down from 9.4 percent in August 2015, and from 10.1 percent in September 2014. This was the lowest rate since September 2009.

Eurostat estimates that 22.631 million men and women in the EU28, of whom 17.323 million were in the euro area, were unemployed. Compared with August 2015, the number of persons unemployed decreased by 147 000 in the EU28 and by 131 000 in the Euro Area. Compared with September 2014, unemployment fell by 1.832 million in the EU28 and by 1.194 million in the Euro Area.

Among the Member States, the lowest unemployment rates were recorded in Germany (4.5 percent), the Czech Republic (4.8 percent), Malta (5.1 percent) and the United Kingdom (5.3 percent in July 2015), and the highest in Greece (25 percent in July 2015) and Spain (21.6 percent). Compared with a year ago, the unemployment rate fell in twenty-three Member States, increased in four and remained stable in Austria. The largest decreases were registered in Spain (21.6 percent from 24 percent), Estonia (5.7 percent from 8 percent between August 2014 and August 2015), Bulgaria (9.4 percent from 11.3 percent) and Slovakia (11 percent from 12.9 percent). The increases were registered in Finland (9.5 percent from 8.9 percent), France (10.7 percent from 10.4 percent), Romania (6.8 percent from 6.7 percent) and Belgium (8.7 percent from 8.6 percent). 

In September 2015, 4.540 million young persons (under 25) were unemployed in the EU28, of whom 3.113 million were in the Euro Area. Compared with September 2014, youth unemployment decreased by 500 000 in the EU28 and by 251 000 in the Euro Area. The youth unemployment rate was 20.1 percent in the EU28 and 22.1 percent in the Euro Area, compared with 21.8 percent and 23.4 percent, respectively a year ago. The lowest rates were observed in Germany (7 percent), Austria (11 percent), Denmark (11.2 percent) and the Netherlands (11.5 percent), and the highest in Greece (48.6 percent in July 2015), Spain (46.7 percent), Croatia (43.1 percent in the third quarter 2015) and Italy (40.5 percent).


Euro Area Jobless Rate Lowest Since January 2012


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
10/30/2015 10:21:45 AM