Euro Area Jobless Rate Down to 4-Year Low


The seasonally-adjusted unemployment rate in the Eurozone decreased slightly to 10.5 percent in November of 2015 compared with previous month's downwardly revised level of 10.6 percent and from 11.5 percent reported in November of 2014. This was the lowest rate recorded since October of 2011.

The EU28 unemployment rate was recorded at 9.1 percent, down from 9.2 percent in October 2015, and from 10 percent in November 2014. This was the lowest rate recorded in the EU28 since July 2009. 

Eurostat estimates that 22.159 million men and women in the EU28, of whom 16.924 million were in the euro area, were unemployed. Compared with October 2015, the number of persons unemployed decreased by 179 000 in the EU28 and by 130 000 in the euro area. Compared with November 2014, unemployment fell by 2.146 million in the EU28 and by 1.573 million in the euro area.

Among the Member States, the lowest unemployment rates were recorded in Germany (4.5 percent), the Czech Republic (4.6 percent) and Malta (5.1 percent), and the highest in Greece (24.6 percent in September 2015) and Spain (21.4 percent). Compared with a year ago, the unemployment rate in November 2015 fell in twenty-five Member States, remained stable in Romania and increased in Austria (5.8 percent from 5.6 percent) and Finland (9.4 percent from 9 percent). The largest decreases were registered in Spain (21.4 percent from 23.7 percent), Bulgaria (8.8 percent from 10.6 percent) and Italy (11.3 percent from 13.1 percent).

4.553 million young persons (under 25) were unemployed in the EU28, of whom 3.167 million were in the euro area. Compared with November 2014, youth unemployment decreased by 412 000 in the EU28 and by 163 000 in the euro area. In November 2015, the youth unemployment rate was 20 percent in the EU28 and 22.5 percent in the euro area, compared with 21.5 percent and 23.2 percent respectively in November 2014. In November 2015, the lowest rates were observed in Germany (7 percent), Denmark (9.9 percent) and Austria (10.9 percent), and the highest in Greece (49.5 percent in September 2015), Spain (47.5 percent), Croatia (45.1 percent in the third quarter 2015) and Italy (38.1 percent).


Euro Area Jobless Rate Down to 4-Year Low


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
1/7/2016 10:21:13 AM