Euro Area Unemployment Down to 7.3% in September

Unemployment fell to 7.3 percent in September from 7.4 percent in August, the lowest since the data were first collated in 1993. Eurostat, adjusted the August figure from 6.9 percent as part of revisions to the entire series.

The euro area (EA13) seasonally-adjusted unemployment rate stood at 7.3% in September 2007, compared to 7.4% in August. It was 8.1% in September 2006. The EU27 unemployment rate was 7.0% in September 2007, compared with 7.1% in August. It was 8.0% in September 2006.

In September 2007, the lowest rates were registered in the Netherlands (3.1%) and Denmark (3.3% in August 2007), and the highest in Slovakia (11.1%) and Poland (8.8%).
Twenty-three Member States recorded a fall in their unemployment rate over a year and three an increase, while the unemployment rate was stable in Luxembourg. The largest relative falls were observed in Poland (12.9% to 8.8%) and Lithuania (6.0% to 4.1%). The highest relative increases were registered in Ireland (4.1% to 4.8%) and Portugal (7.6% to 8.3%).

The unemployment rate for males fell from 7.2% to 6.6% between September 2006 and September 2007 in the euro area and from 7.4% to 6.5% in the EU27. The female unemployment rate declined from 9.2% to 8.3% in the euro area and from 8.7% to 7.7% in the EU27.

In September 2007, the unemployment rate for under-25s was 14.9% in the euro area and 15.1% in the EU27. In September 2006 it was 15.9% and 16.9% respectively. The lowest rates for under-25s were observed in the Netherlands (5.6%), Denmark (6.5% in August 2007) and Austria (8.0%), and the highest in Greece (22.9% in the second quarter 2007), France (21.6%), Romania (19.6%) and Poland (19.2%).

Eurostat estimates that 16.7 million men and women in the EU27, of which 11.2 million were in the euro area, were unemployed in September 2007. In September 2006, 18.8 million men and women in the EU27, of which 12.2 million were in the euro area, were unemployed.

10/31/2007 6:43:18 AM