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Europe – Euro area unemployment reaches lowest level since 2009

09 January 2018

The euro area (EA19) seasonally-adjusted unemployment rate was 8.7% in November 2017, down from 9.8% in November 2016. This is the lowest rate recorded in the euro area since January 2009, according to figures from Eurostat, the statistical body of the European Union.

The EU28 unemployment rate was 7.3% in November 2017, down from 8.3% in November 2016. This is the lowest rate recorded in the EU28 since October 2008.

Eurostat estimates that 18.11 million men and women in the EU28, of whom 14.263 million in the euro area, were unemployed in November 2017. Compared with November 2016, unemployment fell by 2.13 million in the EU28 and by 1.56 million in the euro area.

Among the member states, the lowest unemployment rates in November 2017 were recorded in the Czech Republic (2.5%), Malta and Germany (both 3.6%). The highest unemployment rates were observed in Greece (20.5% in September 2017) and Spain (16.7%).

Compared with a year ago, the unemployment rate fell in all member states for which data is comparable over time. The largest decreases were registered in Greece (from 23.2% to 20.5% between September 2016 and September 2017), Portugal (from 10.5% to 8.2%), Croatia (from 12.5% to 10.4%) and Cyprus (from 13.1% to 11.0%). In November 2017, the unemployment rate in the United States was 4.1%, stable compared to October 2017 and down from 4.6% in November 2016.

In November 2017, the youth unemployment rate was 16.2% in the EU28 and 18.2% in the euro area, compared with 18.2% and 20.5% respectively in November 2016.