Euro Area Unemployment Rate at 11.6 Percent in September


The euro area (EA17) seasonally-adjusted unemployment rate was 11.6 percent in September 2012, up from 11.5 percent in August.

Eurostat estimates that 25.751 million men and women in the EU27, of whom 18.490 million were in the euro area, were unemployed in September 2012. Compared with August 2012, the number of persons unemployed increased by 169 000 in the EU27and by 146 000 in the euro area. Compared with September 2011, unemployment rose by 2.145 million in the EU27and by 2.174 million in the euro area.

Among the Member States, the lowest unemployment rates were recorded in Austria(4.4 percent), Luxembourg (5.2 percent),Germanyand the Netherlands (both 5.4 percent), and the highest in Spain(25.8 percent) and Greece(25.1 percent in July 2012).

Compared with a year ago, the unemployment rate increased in twenty Member States and fell in seven. The largest decreases were observed in Lithuania(14.7 percent to 12.9 percent), Estonia(11.4 percent to 10.0 percent between August 2011 and August 2012), and Latvia (17.0 percent to 15.9 percent between the second quarters of 2011 and 2012). The highest increases were registered inGreece (17.8 percent to 25.1 percent between July 2011 and July 2012),Cyprus(8.5 percent to 12.2 percent), Spain(22.4 percent to 25.8 percent) and Portugal(13.1 percent to 15.7 percent).

In September 2012, 5.520 million young persons (under 25) were unemployed in the EU27, of whom 3.493 million were in the euro area. Compared with September 2011, youth unemployment rose by 164 000 in the EU27and by 275 000 in the euro area. In September 2012, the youth unemployment rate was 22.8 percent in the EU27 and 23.3 percent in the euro area, compared with 21.7 percent and 21.0 percent respectively in September 2011. In September 2012 the lowest rates were observed inGermany(8.0 percent), the Netherlands (9.7 percent) and Austria (9.9 percent), and the highest in Greece (55.6 percent in July 2012) and Spain(54.2 percent).


TradingEconomics.com, Eurostat
10/31/2012 10:10:17 AM