Eurozone Jobless Rate Steady at 9.1% in July


The unemployment rate in the Euro Area was unchanged at 9.1 percent in July of 2017, the same as in the previous month and in line with market expectations. It is the lowest jobless rate since February of 2009. A year earlier, the unemployment rate was higher at 10 percent.

Compared with June of 2017, the number of persons unemployed increased by 73,000 to 14.86 million in the Euro Area. Compared with the previous year,  it fell by 1.309 million.

Considering the European Union, the unemployment rate was 7.7 percent in July 2017, stable compared to June 2017 and down from 8.5 percent in July of 2016. This remains the lowest rate recorded in the EU28 since December of 2008. The number of persons unemployed increased by 93,000 to 18.916 million. Compared with the previous year,  it fell by 1.928 million.

Among the Member States, the lowest unemployment rates in July 2017 were recorded in the Czech Republic (2.9 percent), Germany (3.7 percent) and Malta (4.1 percent). The highest rates were observed in Greece (21.7 percent in May 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 Finland where it remained stable. The largest decreases were registered in Croatia (from 13.2 percent to 10.6 percent), Spain (from 19.6 percent to 17.1 percent), Slovakia (from 9.7 percent to 7.3 percent) and Cyprus (from 13 percent to 10.8 percent).

In July 2017, the youth unemployment rate was 16.9 percent in the EU28 and 19.1 percent in the Euro Area, compared with 18.7 percent and 20.8 percent respectively a year earlier. In July 2017, the lowest rate was observed in Germany (6.5 percent), while the highest were recorded in Greece (44.4 percent in May 2017), Spain (38.6 percent) and Italy (35.5 percent).

Eurozone Jobless Rate Steady at 9.1% in July


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
8/31/2017 9:21:23 AM