Euro Area Unemployment Rate The Lowest Since August 2012


The Euro Area seasonally-adjusted unemployment rate was 11.4% in December 2014, down from 11.5% in November 2014, and from 11.8% in December 2013 as number of unemployed fell.

Among the Member States, the lowest unemployment rates in December 2014 were recorded in Germany (4.8%) and Austria (4.9%), and the highest in Greece (25.8% in October 2014) and Spain (23.7%). 

The European Union (EU28) unemployment rate was 9.9% in December 2014, down from 10.0% in November 2014 and from 10.6% in December 2013. Compared with December 2013 , the unemployment rate fell in twenty-four Member States, remained stable in Belgium and increased in Finland (8.3% to 8.9%), Italy (12.6% to 12.9%) and France (10.2% to 10.3%). The largest decreases were registered in Estonia (9.0% to 6.6% between November 2013 and November 2014), Bulgaria (12.8% to 10.8%), Greece (27.8% to 25.8% between October 2013 and October 2014), Hungary (9.3% to 7.3% between November 2013 and November 2014) and Poland (10.0% to 8.0%).

In December, 24.056 million men and women in the EU28, of whom 18.129 million in the Euro Area, were unemployed. Compared with November 2014, the number of unemployed decreased by 228 000 in the EU28 and by 157 000 in the Euro area. Compared with December 2013, unemployment fell by 1.710 million in the EU28 and by 693 000 in the Euro Area. 

In December 2014, 4.960 million young persons (under 25) were unemployed in the EU28, of whom 3.289 million were in the Euro Area. Compared with December 2013, youth unemployment decreased by 464 000 in the EU28 and by 168 000 in the Euro Area. In December 2014, the youth unemployment rate was 21.4% in the EU28 and 23.0% in the euro area, compared with 23.1% and 23.9% respectively in December 2013. In December 2014, the lowest rates were observed in Germany (7.2%), Austria (9.0%) and the Netherlands (9.6%), and the highest in Spain (51.4%), Greece (50.6% in October 2014), Croatia (44.8% in the fourth quarter 2014) and Italy (42.0%). 

Euro Area Unemployment Rate The Lowest Since August 2012


Eurostat | Nuno Fontes | nuno@tradingeconomics.com
1/30/2015 3:38:41 PM