Euro Area Unemployment Rate Unchanged at 11%


The seasonally-adjusted unemployment rate in the Eurozone remained unchanged at 11 percent in August of 2015 compared with previous month but lower compared to 11.5 percent reported in August of 2014.

The EU28 unemployment rate was 9.5 percent in August 2015, also stable compared to July 2015, and down from 10.1 percent in August 2014.

Eurostat estimates that 23.022 million men and women in the EU28, of whom 17.603 million were in the euro area, were unemployed. Compared with July 2015, the number of persons unemployed decreased by 33 000 in the EU28 and by 1 000 in the euro area. Compared with August 2014, unemployment fell by 1.490 million in the EU28 and by 892 000 in the euro area.

Among the Member States, the lowest unemployment rates were recorded in Germany (4.5 percent), the Czech Republic (5 percent) and Malta (5.1 percent), and the highest in Greece (25.2 percent in June 2015) and Spain (22.2 percent). Compared with a year ago, the unemployment rate fell in twenty-three Member States, increased in four and remained stable in Romania. The largest decreases were registered in Estonia (5.7 percent from 8 percent), Slovakia (11.1 percent from 13.2 percent), Spain (22.2 percent from 24.2 percent), Bulgaria (9.7 percent from 11.4 percent), Ireland (9.5 percent from 11.1 percent) and Poland (7.2 percent from 8.7 percent). The increases were registered in Austria (5.7 percent from 5.6 percent), Belgium (8.8 percent from 8.6 percent), France (10.8 percent from 10.4 percent) and Finland (9.7 percent from 8.8 percent).

In August 2015, 4.610 million young persons (under 25) were unemployed in the EU28, of whom 3.131 million were in the euro area. Compared with August 2014, youth unemployment decreased by 448 000 in the EU28 and by 262 000 in the euro area. In August 2015, the youth unemployment rate was 20.4 percent in the EU28 and 22.3 percent in the euro area, compared with 21.9 percent and 23.6 percent a year ago, respectively. The lowest rates were observed in Germany (7 percent), Austria (10.8 percent), the Netherlands (11.2 percent), Denmark (11.4 percent) and Estonia (11.5 percent in July 2015), and the highest in Spain (48.8 percent), Greece (48.3 percent in June 2015), Croatia (43.5 percent in the second quarter 2015) and Italy (40.7 percent).

Euro Area Unemployment Rate Unchanged at 11%


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/30/2015 10:15:31 AM