Euro Area Jobless Rate Falls to New 9-Year Low

The unemployment rate in the Euro Area edged down to 8.5 percent in February of 2018 from 8.6 percent in January, matching market expectations. It is the lowest jobless rate since December of 2008, well below 9.5 percent a year earlier.

13.916 million people were unemployed in the Euro Area in February 2018, down by 141,000 from the previous month and by 1.436 million from the previous year.

Considering the European Union, the unemployment rate fell to 7.1 percent in February 2018, down from 7.2 percent in January 2018 and 8 percent in February 2017. This is the lowest rate recorded since September 2008. 17.632 million people were unemployed, down by 201,000 from ther previous month and by 1.968 million from the previous year. 

Among the Member States, the lowest unemployment rates in February 2018 were recorded in the Czech Republic (2.4 percent) and Germany and Malta (both 3.5 percent). The highest rates were observed in Greece (20.8 percent in December 2017) and Spain (16.1 percent).

Euro Area Jobless Rate Falls to New 9-Year Low

Eurostat | Joana Taborda |
4/4/2018 9:12:02 AM