Eurozone Jobless Rate Falls to 11-Year Low


The Euro Area seasonally-adjusted unemployment rate fell to 7.5 percent in June 2019 from an upwardly revised 7.6 percent in the previous month and in line with market expectations. It was the lowest jobless rate since July 2008 as the number of unemployed continued to decline.

Compared with May, the number of unemployed in the Euro Area decreased by 45,000 to 12.377 million. Compared with the previous year, it fell by 1.032 million.

Considering the European Union as a whole, the unemployment rate was unchanged at 6.3 percent in June, the lowest since the start of the EU monthly unemployment series in January 2000. There were 15.674 million people unemployed, a decrease of 36,000 from the previous month and of 1.205 million from June 2018.

Among EU Member States, the lowest unemployment rates in June were recorded in Czechia (1.9 percent) and Germany (3.1 percent). The highest unemployment rates were observed in Greece (17.6 percent in April 2019) and Spain (14.0 percent). Compared with a year ago, the largest decreases were registered in Greece (17.6 percent from 19.8 percent between April 2019 and April 2018), Cyprus (6.5 percent from 8.3 percent), Croatia (7.1 percent from 8.6 percent), Ireland (4.5 percent from 5.9 percent) and Slovakia (5.4 percent from 6.7 percent).

The youth unemployment rate was 14.1 percent in the EU28 and 15.4 percent in the Euro Area, compared with 15.2 percent and 17.0 percent respectively in June 2018. The lowest rates were observed in Germany (5.5 percent), the Netherlands (6.5 percent) and Czechia (6.6 percent), while the highest were recorded in Greece (39.6 percent in Q1 2019), Spain (32.4 percent) and Italy (28.1 percent).

Eurozone Jobless Rate Falls to 11-Year Low


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
7/31/2019 9:23:57 AM