Euro Area Unemployment Rate at 12.1% in October


In October of 2013, Euro Area's seasonally-adjusted jobless rate reached 12.1 percent, slightly down from 12.2 percent in September, but higher than 11.7 percent a year earlier. Youth unemployment rate kept its upward trend and climbed to 24.4 percent.

The EU28 unemployment rate was 10.9%, stable compared with September. In October 2013, 26.654 million men and women were unemployed in the EU28, of whom 19.298 million were in the euro area. Compared with September 2013, the number of persons unemployed decreased by 75 000 in the EU28 and by 61 000 in the euro area. Compared with October 2012, unemployment rose by 512 000 in the EU28 and by 615 000 in the euro area.

Among the Member States, the lowest unemployment rates were recorded in Austria (4.8%), Germany (5.2%) and Luxembourg (5.9%), and the highest in Greece (27.3% in August 2013) and Spain (26.7%). Compared with a year ago, the unemployment rate increased in half of the Member States and fell in half. 

In October 2013, 5.657 million young persons (under 25) were unemployed in the EU28, of whom 3.577 million were in the euro area. Compared with October 2012 youth unemployment decreased by 29 000 in the EU28, but increased by 15 000 in the euro area. In October 2013, the youth unemployment rate was 23.7% in the EU28 and 24.4% in the euro area, compared with 23.3% and 23.7% respectively in October 2012. The lowest rates were observed in Germany (7.8%), Austria (9.4%) and the Netherlands (11.6%), and the highest in Greece (58.0% in August 2013), Spain (57.4%) and Croatia (52.4% in the third quarter of 2013). 


Euro Area Unemployment Rate at 12.1% in October


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
11/29/2013 10:30:11 AM