Euro Area Unemployment Rate Stable at 12.1% in July


In July, the Euro Area seasonally-adjusted unemployment rate was unchanged at its record high of 12.1 percent for the 5th successive month. Youth unemployment increased further to 24.0 percent from 23.2 percent a month earlier.

In July, 19.231 million men and women in the Euro Area, were unemployed. Compared with June, the number of persons unemployed decreased by 33 000 in the European Union and by 15 000 in the Euro Area. Compared with July 2012, unemployment rose by 995 000 in the EU and by 1.008 million in the Euro Area. 

Among the Member States, the lowest unemployment rates were recorded in Austria (4.8 percent), Germany (5.3 percent) and Luxembourg (5.7 percent), and the highest in Greece (27.6 percent in May 2013) and Spain (26.3 percent). 

Compared with a year ago, the unemployment rate increased in seventeen Member States and fell in eleven. The highest increases were registered in Cyprus (12.2 percent to 17. percent), Greece (23.8 percent to 27.6 percent between May 2012 and May 2013), Slovenia (9.3 percent to 11.2 percent) and the Netherlands (5.3 percent to 7.0 percent). 

The European Union unemployment rate was 11.0 percent, also stable compared with June. In both zones, rates have risen compared with July 2012, when they were 11.5 percent in the Euro Area and 10.5 in the EU. 

Euro Area Unemployment Rate Stable at 12.1% in July


Eurostat | Nuno Fontes | nuno@tradingeconomics.com
8/30/2013 10:32:04 AM