Euro Area Unemployment Rate at 10.3% in October


The euro area (EA17) seasonally-adjusted unemployment rate was 10.3% in October 2011, compared with 10.2% in September. It was 10.1% in October 2010.

The EU27 unemployment rate was 9.8% in October 2011, compared with 9.7% in September. It was 9.6% in October 2010.

Eurostat estimates that 23.554 million men and women in the EU27, of whom 16.294 million were in the euro area, were unemployed in October 2011. Compared with September 2011, the number of persons unemployed increased by 130 000 in the EU27 and by 126 000 in the euro area. Compared with October 2010, unemployment rose by 440 000 in the EU27 and by 367 000 in the euro area.

Among the Member States, the lowest unemployment rates were recorded in Austria (4.1%), Luxembourg (4.7%) and the Netherlands (4.8%), and the highest in Spain (22.8%), Greece (18.3% in August 2011) and Latvia (16.2% in the second quarter of 2011).

Compared with a year ago, the unemployment rate fell in twelve Member States and increased in fifteen. The largest falls were observed in Estonia (16.1% to 11.3% between the third quarters of 2010 and 2011), Lithuania (18.3% to 15.0% between the third quarters of 2010 and 2011) and Latvia (19.3% to 16.2% between the second quarters of 2010 and 2011). The highest increases were registered in Greece (12.9% to 18.3% between August 2010 and August 2011), Spain (20.5% to 22.8%) and Cyprus (6.0% to 8.2%).

In October 2011, 5.482 million young persons (under-25s) were unemployed in the EU27, of whom 3.338 million were in the euro area. Compared with October 2010, youth unemployment increased by 222 000 in the EU27 and by 141 000 in the euro area. In October 2011, the youth unemployment rate was 22.0% in the EU27 and 21.4% in the euro area. In October 2010 it was 20.9% and 20.6% respectively. The lowest rates were observed in the Netherlands (8.2%), Germany (8.5%) and Austria (9.1%), and the highest in Spain (48.9%) and Greece (45.1% in August 2011).


TradingEconomics.com, Eurostat
11/30/2011 12:33:46 PM