Euro area unemployment at 9.3%

Euro area unemployment at 9.3%

Euro area unemployment at 9.3%

The FINANCIAL -- The euro area (EA19) seasonally-adjusted unemployment rate was 9.3% in May 2017, stable compared to April 2017 and down from 10.2% in May 2016.

This remains the lowest rate recorded in the euro area since March 2009. The EU28 unemployment rate was 7.8% in May 2017, stable compared to April 2017 and down from 8.7% in May 2016. This remains the lowest rate recorded in the EU28 since December 2008. These figures are published by Eurostat, the statistical office of the European Union.

Eurostat estimates that 19.115 million men and women in the EU28, of whom 15.034 million in the euro area, were unemployed in May 2017. Compared with April 2017, the number of persons unemployed decreased by 22 000 in the EU28 and by 5 000 in the euro area. Compared with May 2016, unemployment fell by 2.122 million in the EU28 and by 1.428 million in the euro area.

Member States

Among the Member States, the lowest unemployment rates in May 2017 were recorded in the Czech Republic (3.0%), Germany (3.9%) and Malta (4.1%). The highest unemployment rates were observed in Greece (22.5% in March 2017) and Spain (17.7%).

Compared with a year ago, the unemployment rate in May 2017 fell in all Member States for which data is comparable over time. The largest decreases were registered in Croatia (from 13.4% to 10.7%), Spain (from 20.2% to 17.7%) and Ireland (from 8.4% to 6.4%).

In May 2017, the unemployment rate in the United States was 4.3%, down from 4.4% in April 2017 and from 4.7% in May 2016.

Youth unemployment

In May 2017, 3.763 million young persons (under 25) were unemployed in the EU28, of whom 2.622 million were in the euro area. Compared with May 2016, youth unemployment decreased by 584 000 in the EU28 and by 401 000 in the euro area. In May 2017, the youth unemployment rate was 16.9% in the EU28 and 18.9% in the euro area, compared with 19.0% and 21.3% respectively in May 2016. In May 2017, the lowest rate was observed in Germany (6.7%), while the highest were recorded in Greece (46.6% in March 2017), Spain (38.6%) and Italy (37.0%).