Euro Area Unemployment Rate Beats Expectations

The jobless rate in the Eurozone decreased slightly to 10.7 percent in October of 2015 from 10.8 percent in the previous two months. It is the lowest figure since January of 2012.

The EU 28 unemployment rate was 9.3 percent in October 2015, stable compared to September 2015 and the lowest since September of 2009. Eurostat estimates that 22.497 million men and women in the EU 28, of whom 17.240 million were in the euro area, were unemployed in October 2015. Compared with September, the number of persons unemployed decreased by 36 000 in the EU 28 and by 13 000 in the euro area. Compared with October 2014, unemployment fell by 1.942 million in the EU 28 and by 1.302 million in the euro area.

Among Member States, the lowest unemployment rates in October were recorded in Germany (4.5 percent), the Czech Republic (4.7 percent)) and Malta (5.1 percent), and the highest in Greece (24.6 percent in August 2015) and Spain (21.6 percent).

Compared with a year ago, the unemployment rate in October 2015 fell in twenty-four Member States and increased in four. The largest decreases were registered in Spain (from 23.9 percent to 21.6 percent), Slovakia (from 12.7 percent to 10.7 percent), Ireland (from 10.7 percent to 8.9 percent) and Croatia (from 17.6 percent to 15.8 percent). The increases were registered in Finland (9.0 percent to 9.5 percent), France (10.5 percent to 10.8 percent), Belgium (8.6 percent to 8.7 percent) and Romania (6.7 percent to 6.8 percent). 

Euro Area Unemployment Rate Beats Expectations

Eurostat | Joana Taborda |
12/1/2015 10:22:24 AM