Eurozone Jobless Rate Drops to 10-1/2-Year Low


The Euro Area seasonally-adjusted unemployment rate fell to 7.6 percent in April 2019 from 7.7 percent in the previous month and below market expectations of 7.7 percent. It was the lowest jobless rate since August 2008 as the number of unemployed continued to decline.

Compared with March, the number of unemployed in the Euro Area decreased by 64,000 to 12.529 million. Compared with the previous year, it fell by 1.147 million.

Considering the European Union as a whole, the unemployment rate stood at 6.4 percent in April, unchanged from previous month and down from 7.0 percent a year ago. That remained the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000. There were 15.802 million people unemployed, a decrease of 108,000 from the previous month and of 1.394 million from April 2018.

Among EU Member States, the lowest unemployment rates in April were recorded in Czechia (2.1 percent), Germany (3.2 percent) and the Netherlands (3.3 percent). The highest unemployment rates were observed in Greece (18.5 percent in February 2019), Spain (13.8 percent) and Italy (10.2 percent). Compared with a year ago, the largest decreases were registered in Greece (18.5 percent from 20.6 percent between February 2019 and February 2018), Estonia (4.1 percent from 6.0 percent between March 2019 and March 2018) and Spain (13.8 percent from 15.6 percent).

The youth unemployment rate was 14.2 percent in the EU28 and 15.8 percent in the Euro Area, compared with 15.4 percent and 17.2 percent respectively in April 2018. The lowest rates were observed in Germany (5.3 percent) and the Netherlands (6.2 percent), while the highest were recorded in Greece (38.8 percent in February 2019), Spain (32.7 percent) and Italy (31.4 percent).

Eurozone Jobless Rate Drops to 10-1/2-Year Low


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/4/2019 9:12:37 AM