Eurozone Jobless Rate Steady at 10% in September


The seasonally adjusted unemployment rate in the Euro Area stood at 10 percent in September 2016, unchanged from a downwardly revised August rate and lower than 10.6 percent a year earlier. The figure came in line with market expectations and hit its lowest level since June 2011.

The EU28 unemployment rate was 8.5 percent, stable compared to August 2016 and down from 9.2 percent in September 2015. This was the lowest rate recorded in the EU28 since February 2009.

Eurostat estimates that 20.789 million men and women in the EU28, of whom 16.181 million were in the euro area, were unemployed. Compared with August 2016, the number of persons unemployed decreased by 150 000 in the EU28, and by 101 000 in the euro area. Compared with September 2015, unemployment fell by 1.596 million in the EU28 and by 905 000 in the euro area. 

Among the Member States, the lowest unemployment rates in September 2016 were recorded in the Czech Republic (4.0%) and Germany (4.1%). The highest unemployment rates were observed in Greece (23.2% in July 2016) and Spain (19.3%). Compared with a year ago, the unemployment rate in September 2016 fell in twenty-four Member States, while it increased in Estonia (from 5.4% to 7.6% between August 2015 and August 2016), Austria (from 5.7% to 6.3%), Denmark (from 6.0% to 6.3%) and Italy (from 11.4% to 11.7%). The largest decreases were registered in Croatia (from 16.4% to 12.6%), Cyprus (from 14.3% to 12.0%) and Spain (from 21.4% to 19.3%).

There were 4.125 million young persons (under 25) unemployed in the EU28, of whom 2.875 million were in the euro area. Compared with September 2015, youth unemployment decreased by 425 000 in the EU28 and by 243 000 in the euro area. In September 2016, the youth unemployment rate was 18.2% in the EU28 and 20.3% in the euro area, compared with 20.0% and 22.2% respectively in September 2015. In September 2016, the lowest rate was observed in Germany (6.8%), and the highest were recorded in Greece (42.7% in July 2016), Spain (42.6%) and Italy (37.1%)


 Eurozone Jobless Rate Steady at 10% in September


Eurostat | Yekaterina Guchshina | yekaterina@tradingeconomics.com
11/3/2016 10:13:37 AM