Euro Area Jobless Rate Unchanged at Over 11-Year Low of 7.5%

The Euro Area seasonally-adjusted unemployment rate stood at 7.5 percent in September 2019, unchanged from the previous month and slightly above market expectations of 7.4 percent. Still, this is the lowest rate recorded in the euro area since July 2008.
Eurostat | Agna Gabriel | agna.gabriel@tradingeconomics.com 10/31/2019 10:24:15 AM
Compared with August, the number of unemployed in the Euro Area rose by 33,000 to 12.335 million. Compared with the previous year, it fell by 738,000. 

Considering the European Union as a whole, the unemployment rate was unchanged at 6.3 percent in September, the lowest since the start of the EU monthly unemployment series in January 2000. There were 15.635 million people unemployed, an increase of 48,000 from the previous month and a decline of 889,000 from September 2018.

Among EU Member States, the lowest unemployment rates in September were recorded in Czechia (2.1 percent) and Germany (3.1 percent). The highest unemployment rates were observed in Greece (16.9 percent in July 2019) and Spain (14.2 percent). Compared with a year ago, unemployment remained stable in Belgium, Portugal and Romania while it increased in Lithuania (6.5 percent from 6.3 percent in August), Denmark (5.3 percent from 5.0 percent), and Sweden (7.3 percent from 6.3 percent). The largest decreases were registered in Greece (16.9 percent in July 2019 from 19.1 in July 2018), Cyprus (6.6 percent from 8.0 percent) and Estonia (3.9 percent in August from 5.3 percent in August 2018).

The youth unemployment rate was 14.5 percent in the EU28 and 15.9 percent in the Euro Area, compared with 15.0 percent and 16.7 percent respectively in September 2018. The lowest rates were observed in Czechia (4.4 percent), Germany (5.9 percent) and the Netherlands (7.2 percent), while the highest were recorded in Greece (33.2 percent in the Q2 2019), Spain (32.8 percent) and Italy (28.7 percent).

Euro Area Jobless Rate Unchanged at Over 11-Year Low of 7.5%