Euro Area Jobless Rate Drops to 8.9% in September


The unemployment rate in the Euro Area decreased to 8.9 percent in September 2017, below a downwardly revised 9.0 percent in August 2017 and slightly lower than market expectations of 9 percent. This is the lowest rate recorded in the Euro Area since January 2009. A year earlier, the unemployment rate was higher at 9.9 percent.

The EU28 unemployment rate was 7.5 percent in September 2017, stable compared to August 2017 and down from 8.4 percent in September 2016. This remains the lowest rate recorded in the EU28 since November 2008.

Compared with August 2017, the number of persons unemployed decreased by 116 000 in the EU28 and by 96 000 in the Euro Area. Compared with September 2016, unemployment fell by 2.076 million in the EU28 and by 1.463 million in the Euro Area. It is estimated that 18.446 million men and women in the EU28, of whom 14.513 million in the Euro Area, were unemployed in September 2017. 

Among the Member States, the lowest unemployment rates in September 2017 were recorded in the Czech Republic (2.7 percent), Germany (3.6 percent) and Malta (4.1 percent). The highest unemployment rates were observed in Greece (21.0 percent in July 2017) and Spain (16.7 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 and Lithuania where it increased (from 7.6 percent to 7.7 percent). The largest decreases were registered in Cyprus (from 13.0 percent to 10.3 percent), Spain (from 19.1 percent to 16.7 percent) and Greece (from 23.4 percent to 21.0 percent between July 2016 and July 2017).

In September 2017, 3.735 million young persons (under 25) were unemployed in the EU28, of whom 2.656 million were in the Euro Area. Compared with September 2016, youth unemployment decreased by 396 000 in the EU28 and by 229 000 in the Euro Area. In September 2017, the youth unemployment rate was 16.6 percent in the EU28 and 18.7 percent in the Euro Area, compared with 18.3 percent and 20.4 percent respectively in September 2016. In September 2017, the lowest rate was observed in Germany (6.4 percent), while the highest was recorded in Greece (42.8 percent in July 2017), Spain (37.2 percent) and Italy (35.7 percent).

Euro Area Jobless Rate Drops to 8.9% in September


Eurostat | Marta Dubiel | marta.dubiel@tradingeconomics.com
10/31/2017 10:49:05 AM