Eurozone Jobless Rate Drops to 9.1% in June


The unemployment rate in the Euro Area fell to 9.1 percent in June of 2017 from a downwardly revised 9.2 percent in May and below market expectations of 9.2 percent. It is the lowest jobless rate since February of 2009. A year earlier, the unemployment rate was higher at 10.1 percent.

Compared with May 2017, the number of unemployed decreased by 148,000 to 14.718 million in the Euro Area. Compared with the previous year, it fell by 1.667 million.

Considering the European Union, the unemployment rate was flat at 7.7 percent, the same as in the previous month and down from 8.6 percent a year ago. This remains the lowest rate recorded in the EU28 since December 2008. There were 18.725 million people unemployed, a decrease of 183,000 from the previous month and of 2.368 million from June 2016.

Among EU Member States, the lowest unemployment rates in june 2017 were recorded in the Czech Republic (2.9 percent), Germany (3.8 percent) and Malta (4.1 percent). The highest were observed in Greece (21.7 percent in April 2017) and Spain (17.1 percent). Compared with a year ago, the unemployment rate fell in all Member States for which data is comparable over time, except Estonia which showed an increase (from 6.5 percent in May 2016 to 6.9 percent in May 2017). The largest decreases were registered in Spain (from 19.9 percent to 17.1 percent) and Croatia (from 13.3 percent to 10.6 percent). 

The youth unemployment rate was 16.7 percent in the EU28 and 18.7 percent in the Euro Area, compared with 18.8 percent and 21 percent respectively in June 2016. In June 2017, the lowest rate was observed in Germany (6.7 percent) while the highest were recorded in Greece (45.5 percent in April 2017), Spain (39.2 percent) and Italy (35.4 percent).

 Eurozone Jobless Rate Drops to 9.1% in June


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
7/31/2017 9:23:28 AM