Euro area unemployment at 9.6%

Euro area unemployment at 9.6%

Euro area unemployment at 9.6%

The FINANCIAL -- The euro area (EA19) seasonally-adjusted unemployment rate was 9.6% in January 2017, stable compared to December 2016 and down from 10.4% in January 2016.

This remains the lowest rate recorded in the euro area since May 2009. The EU28 unemployment rate was 8.1% in January 2017, down from 8.2% in December 2016 and from 8.9% in January 2016. This is the lowest rate recorded in the EU28 since January 2009. These figures are published by Eurostat, the statistical office of the European Union.

Eurostat estimates that 19.969 million men and women in the EU28, of whom 15.620 million were in the euro area, were unemployed in January 2017. Compared with December 2016, the number of persons unemployed decreased by 96 000 in the EU28 and by 56 000 in the euro area. Compared with January 2016, unemployment fell by 1.733 million in the EU28 and by 1.101 million in the euro area.

Member States

Among the Member States, the lowest unemployment rates in January 2017 were recorded in the Czech Republic (3.4%) and Germany (3.8%). The highest unemployment rates were observed in Greece (23.0% in November 2016) and Spain (18.2%).

Compared with a year ago, the unemployment rate in January 2017 fell in twenty-five Member States, while it increased in Cyprus (from 13.1% to 14.1%), Italy (from 11.6% to 11.9%) and Denmark (from 6.0% to 6.2%). The largest decreases were registered in Croatia (from 14.8% to 11.3%), Spain (from 20.6% to 18.2%), Hungary (from 6.2% to 4.3% between December 2015 and December 2016), Portugal (from 12.1% to 10.2%), Slovakia (from 10.4% to 8.6%) and Ireland (from 8.5% to 6.7%).

In January 2017, the unemployment rate in the United States was 4.8%, up from 4.7% in December 2016 but down from 4.9% in January 2016.

Youth unemployment

In January 2017, 4.017 million young persons (under 25) were unemployed in the EU28, of whom 2.826 million were in the euro area. Compared with January 2016, youth unemployment decreased by 357 000 in the EU28 and by 198 000 in the euro area. In January 2017, the youth unemployment rate was 17.7% in the EU28 and 20.0% in the euro area, compared with 19.3% and 21.7% respectively in January 2016. In January 2017, the lowest rate was observed in Germany (6.5%), while the highest were recorded in Greece (45.7% in November 2016), Spain (42.2%) and Italy (37.9%).