Euro area unemployment at 9.1%

Euro area unemployment at 9.1%

Euro area unemployment at 9.1%

The FINANCIAL -- The euro area (EA19) seasonally-adjusted unemployment rate was 9.1% in August 2017, stable compared to July 2017 and down from 9.9% in August 2016.

This remains the lowest rate recorded in the euro area since February 2009. The EU28 unemployment rate was 7.6% in August 2017, down from 7.7% in July 2017 and from 8.5% in August 2016. This is the lowest rate recorded in the EU28 since November 2008. These figures are published by Eurostat, the statistical office of the European Union.

Eurostat estimates that 18.747 million men and women in the EU28, of whom 14.751 million in the euro area, were unemployed in August 2017. Compared with July 2017, the number of persons unemployed decreased by 104 000 in the EU28 and by 42 000 in the euro area. Compared with August 2016, unemployment fell by 1.923 million in the EU28 and by 1.319 million in the euro area.

Member States

Among the Member States, the lowest unemployment rates in August 2017 were recorded in the Czech Republic (2.9%), Germany (3.6%) and Malta (4.2%). The highest unemployment rates were observed in Greece (21.2% in June 2017) and Spain (17.1%).

Compared with a year ago, the unemployment rate fell in all Member States for which data is comparable over time, except Finland where it remained stable. The largest decreases were registered in Cyprus (from 13.1% to 10.7%), Greece (from 23.5% to 21.2% between June 2016 and June 2017) and Spain (from 19.3% to 17.1%).

In August 2017, the unemployment rate in the United States was 4.4%, up from 4.3% in July 2017 but down from 4.9% in August 2016.

Youth unemployment

In August 2017, 3.754 million young persons (under 25) were unemployed in the EU28, of whom 2.668 million were in the euro area. Compared with August 2016, youth unemployment decreased by 426 000 in the EU28 and by 240 000 in the euro area. In August 2017, the youth unemployment rate was 16.7% in the EU28 and 18.9% in the euro area, compared with 18.5% and 20.6% respectively in August 2016. In August 2017, the lowest rate was observed in Germany (6.4%), while the highest were recorded in Greece (43.3% in June 2017), Spain (38.7%) and Italy (35.1%).