Eurozone Jobless Rate Stable At 9.8% In November


The seasonally adjusted unemployment rate in the Euro Area stood at 9.8 percent in November 2016, unchanged from the previous month and lower than 10.5 percent a year earlier. It was the lowest unemployment rate since July 2009.

The euro area seasonally-adjusted unemployment rate was 9.8 percent in November 2016, stable compared to October 2016 and down from 10.5 percent in November 2015. This is the lowest rate recorded in the euro area since July 2009. The EU28 unemployment rate was 8.3 percent in November 2016, down from 8.4 percent in October 2016 and from 9 percent in November 2015. This is the lowest rate recorded in the EU28 since February 2009. 

Eurostat estimates that 20.429 million men and women in the EU28, of whom 15.898 million were in the euro area, were unemployed in November 2016. Compared with October 2016, the number of persons unemployed decreased by 41 000 in the EU28 and by 15 000 in the euro area. Compared with November 2015, unemployment fell by 1.552 million in the EU28 and by 972 000 in the euro area.

Among the Member States, the lowest unemployment rates were recorded in the Czech Republic (3.7 percent) and Germany (4.1 percent). The highest unemployment rates were observed in Greece (23.1 percent in September 2016) and Spain (19.2 percent). Compared with a year ago, the unemployment rate in November 2016 fell in twenty-four Member States, while it increased in Estonia (to 7.4 percent in October 2016 from 6.3 percent in October 2015), Cyprus (to 14.2 percent from 13.2 percent), Denmark (to 6.5 percent from 6.1 percent) and Italy (to 11.9 percent from 11.5 percent). The largest decrease was registered in Croatia (to 11.4 percent from 15.7 percent).

There were 4.280 million young persons (under 25) were unemployed in the EU28, of whom 3.007 million were in the euro area. Compared with November 2015, youth unemployment decreased by 137 000 in the EU28 and by 42 000 in the euro area. In November 2016, the youth unemployment rate was 18.8 percent in the EU28 and 21.2 percent in the euro area, compared with 19.5 percent and 21.8 percent respectively in November 2015. In November 2016, the lowest rate was observed in Germany (6.7 percent), while the highest were recorded in Greece (46.1 percent in September 2016), Spain (44.4 percent) and Italy (39.4 percent).

Eurozone Jobless Rate Stable At 9.8% In November


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
1/9/2017 10:15:28 AM