Euro Area Unemployment Rate Down to 11.3%


The Euro Area seasonally-adjusted unemployment rate was 11.3 percent in February, down from a revised 11.4 percent in January. This is the lowest rate since May 2012.

Among the Member States, the lowest unemployment rates in February 2015 were recorded in Germany (4.8%) and Austria (5.3%), and the highest in Greece (26.0% in December 2014) and Spain (23.2%).

The European Union (EU28) unemployment rate was 9.8%, down from 9.9%. In February, 23.887 million men and women in the (EU28), of whom 18.204 million in the euro area, were unemployed. Compared with January 2015, the number of persons unemployed decreased by 91 000 in the EU28 and by 49 000 in the Euro Area. Compared with February 2014, unemployment fell by 1.547 million in the EU28 and by 643 000 in the Euro Area.

Compared with a year ago, the unemployment rate in February 2015 fell in twenty-two Member States and increased in six Member States. The largest decreases were registered in Estonia (8.4% to 6.2% between January 2014 and January 2015), Ireland (12.1% to 9.9%) and Bulgaria (12.3% to 10.2%). The largest increases were registered in Croatia (17.3% to 18.5%), Cyprus (15.6% to 16.3%) and Finland (8.4% to 9.1%).

In February 2015, 4.850 million young persons (under 25) were unemployed in the EU28, of whom 3.245 million were in the Euro Area. Compared with February 2014, youth unemployment decreased by 494 000 in the EU28 and by 230 000 in the Auro Area. In February 2015, the youth unemployment rate was 21.1% in the EU28 and 22.9% in the Euro Area, compared with 22.9% and 24.0% respectively in February 2014. In February 2015, the lowest rates were observed in Germany (7.2%), Austria (9.0%) and Denmark (10.2%), and the highest in Greece (51.2% in December 2014), Spain (50.7%), Croatia (46.4% in the fourth quarter 2014) and Italy (42.6%).

Euro Area Unemployment Rate Down to 11.3%


Eurostat | Nuno Fontes | nuno@tradingeconomics.com
3/31/2015 1:22:09 PM