Euro Area Jobless Rate Steady at 8.3% in June


The unemployment rate in the Euro Area remained unchanged at 8.3 percent in June of 2018, the same as the previous month’s revised figure and in line with market expectations. It remains the lowest jobless rate since December of 2008.

Compared with May, the numeber of unemployed in the Euro Area rose by 14,000 to 13.570 million. Compared with the previous year, it dropped by 1.657 million.

Considering the European Union, the jobless rate stood at 6.9 percent, unchanged from the prior month and down from 7.6 percent a year earlier. It was the lowest rate in the EU28 since May 2008. There were 17.105 million people unemployed, an increase of 4,000 from the previous month and a decline of 1.657 million from June 2017.

Among the EU Member States, the lowest unemployment rates in June 2018 were recorded in the Czech Republic (2.4 percent) and Germany (3.4 percent). Meantime, the highest unemployment rates were observed in Greece (20.2 percent in April 2018) and Spain (15.2 percent). Compared with a year ago, the unemployment rate fell in all Member States. The largest decreases were registered in Cyprus (8.2 percent from 11.0 percent), Portugal (6.7 percent from 9.1 percent), Croatia (9.2 percent from 11.1 percent), Estonia (from 6.8 percent to 4.9 percent between May 2017 and May 2018) and Spain (15.2 percent from 17.0 percent).

The youth unemployment rate was 15.2 percent in the EU28 and 16.9 percent in the Euro Area, compared with 16.8 percent and 18.9 percent respectively in June of 2017. The lowest rates were observed in Malta (5.5 percent), Germany (6.2 percent), Netherlands (7.2 percent), Czech Republic (8.4 percent) and Denmark (9.1 percent), while the highest rates were recorded in Greece (42.3 percent in April 2018), Spain (34.1 percent), Italy (32.6 percent), Croatia (22.7 percent) and France (20.4 percent).

Euro Area Jobless Rate Steady at 8.3% in June


Eurostat | Stefanie Moya | stefanie.moya@tradingeconomics.com
7/31/2018 9:43:58 AM