Euro Area Unemployment Rate Rose to New Record in April


The Euro Area seasonally-adjusted unemployment rate was 12.2 percent in April 2013, up from 12.1 percent in March. The number of jobless people rose to 19.4 million, up 95,000 from the previous month. Youth unemployment was at 24.4 percent.

Eurostat estimates that 26.588 million men and women in the EU27, of whom 19.375 million were in the Euro Area, were unemployed in April 2013. Compared with March 2013, the number of persons unemployed increased by 104 000 in the EU27 and by 95 000 in the Euro Area. Compared with April 2012, unemployment rose by 1.673 million in the EU27 and by 1.644 million in the euro area. 

Among the Member States, the lowest unemployment rates were recorded in Austria (4.9 percent), Germany (5.4 percent) and Luxembourg (5.6 percent), and the highest in Greece (27.0 percent in February 2013), Spain (26.8 percent) and Portugal (17.8 percent). 

Compared with a year ago, the unemployment rate increased in eighteen Member States and fell in nine. The highest increases were registered in Greece (21.9 percent to 27.0 percent between February 2012 and February 2013),Cyprus (11.2 percent to 15.6 percent), Spain (24.4 percent to 26.8 percent) and Portugal (15.4 percent to 17.8 percent). 

The largest decreases were observed in Latvia (15.5 percent to 12.4 percent between the first quarters of 2012 and 2013), Estonia (10.6 percent to 8.7 percent between March 2012 and March 2013) and Ireland (14.9 percent to 13.5 percent). In April 2013, 5.627 million young persons (under 25) were unemployed in the EU27, of whom 3.624 million were in the euro area. Compared with April 2012, youth unemployment rose by 100 000 in the EU27 and by 188 000 in the euro area. In April 2013, the youth unemployment rate was 23.5% in the EU27 and 24.4% in the euro area, compared with 22.6% in both zones in April 2012. In April 2013, the lowest rates were observed in Germany (7.5%), Austria (8.0%) and the Netherlands (10.6%), and the highest in Greece (62.5% in February 2013), Spain (56.4%), Portugal (42.5%) and Italy (40.5%).

Euro Area Unemployment Rate Rose to New Record in April


Eurostat | Nuno Fontes | nuno@tradingeconomics.com
5/31/2013 11:39:32 AM