Euro Area Unemployment Rate Unchanged at 11.5%

The Euro Area seasonally-adjusted unemployment rate was 11.5 percent in September, stable compared with the previous three months. This is the lowest level since September of 2012. The youth unemployment rate fell to 23.3 percent.

The EU 28 unemployment rate was 10.1 percent in September 2014, also stable compared with August 2014 and down from 10.8 percent. In September, 24.512 million men and women in the EU28, of whom 18.347 million were in the Euro Area, were unemployed. Compared with August 2014, the number of persons unemployed decreased by 108 000 in the EU28 and by 19 000 in the euro area. Compared with September 2013, unemployment fell by 1.818 million in the EU28 and by 826 000 in the Euro Area. 

Among the Member States, the lowest unemployment rates were recorded in Germany (5.0 percent) and Austria (5.1 percent), and the highest in Greece (26.4 percent in July 2014) and Spain (24.0 percent). Compared with a year ago, the unemployment rate fell in twenty-one Member States, increased in six and remained stable in Belgium. The largest decreases were registered in Hungary (10.0 percent to 7.6 percent between August 2013 and August 2014), Spain (26.1 percent to 24.0 percent) and Portugal (15.7 percent to 13.6 percent), and the highest increases were registered in Finland (8.2 percent to 8.7 percent) and France (10.3 percent to 10.5 percent).

The youth unemployment rate was 21.6 percent in the EU28 and 23.3 percent in the euro area, compared with 23.5 percent and 24.0 percent respectively in September 2013. The lowest youth unemployment rates were observed in Germany (7.6 percent), Austria (9.1 percent) and the Netherlands (9.8 percent), and the highest in Spain (53.7 percent), Greece (50.7 percent in July 2014), Italy (42.9 percent) and Croatia (41.8 percent in the third quarter 2014). 

Euro Area Unemployment Rate Unchanged at 11.5%

Nuno Fontes |
10/31/2014 10:12:59 AM