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EU – Euro area unemployment reaches lowest rate since 2009

02 October 2017

The euro area (EA19) seasonally-adjusted unemployment rate stood at 9.1% in August 2017, stable compared to July 2017 and down from 9.9% in August 2016.  This remains the lowest rate recorded in the euro area since February 2009, according to figures from Eurostat, the statistical office of the EU.

Figures from Eurostat also show that the EU28 unemployment rate was 7.6% in August 2017, down from 7.7% in July 2017 and from 8.5% in August 2016. This is the lowest rate recorded in the EU28 since November 2008.

Eurostat estimates that 18.74 million men and women in the EU28, of whom 14.75 million in the euro area, were unemployed in August 2017. Compared with August 2016, unemployment fell by 1.923 million in the EU28 and by 1.319 million in the euro area. Compared with July 2017, the number of persons unemployed decreased by 104,000 in the EU28 and by 42,000 in the euro area. Compared with August 2016, unemployment fell by 1.92 million in the EU28 and by 1.31 million in the euro area.

Among the member states, the lowest unemployment rates in August 2017 were recorded in the Czech Republic (2.9%), Germany (3.6%) and Malta (4.2%). The highest unemployment rates were observed in Greece (21.2% in June 2017) and Spain (17.1%). 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.

Meanwhile, in August 2017, there were 3.75 million young persons (under 25) who were unemployed in the EU28, of whom 2.66 million were in the euro area. Compared with August 2016, youth unemployment decreased by 426,000 in the EU28 and by 240, 000 in the euro area. Overall, the youth unemployment rate in August was 16.7% in the EU28 and 18.9% in the euro area, compared with 18.5% and 20.6% respectively in August 2016. The lowest rate was observed in Germany (6.4% in August 2017), while the highest was recorded in Greece (43.3% in June 2017).