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Europe – Euro area unemployment reaches lowest rate since 2009

31 August 2017

The euro area (EA19) seasonally-adjusted unemployment rate was 9.1% in July 2017, down from 10.0% in July 2016. This is the lowest rate recorded in the euro area since February 2009, according to figures published by Eurostat, the statistical office of the European Union.

The EU28 unemployment rate was 7.7% in July 2017, down from 8.5% in July 2016. This remains the lowest rate recorded in the EU28 since December 2008. When compared to the previous month, both the EU28 and euro area unemployment rates remained stable.

Eurostat estimates that 18.9 million men and women in the EU28, of whom 14.8 million in the euro area, were unemployed in July 2017. Compared with July 2016, unemployment fell by 1.9 million in the EU28 and by 1.3 million in the euro area. Compared with June 2017, the number of persons unemployed increased by 93,000 in the EU28 and by 73 000 in the euro area.

Among the member states, the lowest unemployment rates in July 2017 were recorded in the Czech Republic (2.9%), Germany (3.7%) and Malta (4.1%). The highest unemployment rates were observed in Greece (21.7% in May 2017) and Spain (17.1%).

Eurostat figures also showed that in July 2017, 3.7 million young persons (under 25) were unemployed in the EU28, of whom 2.6 million were in the euro area. Compared with July 2016, youth unemployment decreased by 450,000 in the EU28 and by 272,000 in the euro area. In July 2017, the youth unemployment rate was 16.9% in the EU28 and 19.1% in the euro area, compared with 18.7% and 20.8% respectively in July 2016.