Euro area unemployment rate at 10.3%

The FINANCIAL — The euro area (EA19) seasonally-adjusted unemployment rate was 10.3% in January 2016, down from 10.4% in December 2015, and from 11.3% in January 2015.

This is the lowest rate recorded in the euro area since August 2011. The EU28 unemployment rate was 8.9% in January 2016, down from 9.0% in December 2015, and from 9.8% in January 2015. This is the lowest rate recorded in the EU28 since May 2009. These figures are published by Eurostat, the statistical office of the European Union.

Eurostat estimates that 21.789 million men and women in the EU28, of whom 16.647 million were in the euro area, were unemployed in January 2016. Compared with December 2015, the number of persons unemployed decreased by 163 000 in the EU28 and by 105 000 in the euro area. Compared with January 2015, unemployment fell by 2.034 million in the EU28 and by 1.445 million in the euro area.

How Structured Interviewing Reduces Bias in Hiring

Payroll employment increases by 272,000 in May; unemployment rate changes little at 4.0%

4 Reasons ‘Quiet Firing’ is Bad for Business

Gartner HR Research Finds Just 32% of Total Rewards Leaders Are Confident in Their Organization’s Assessment of the Effectiveness of Their Well-Being Programs

Member States

Among the Member States, the lowest unemployment rates in January 2016 were recorded in Germany (4.3%), the Czech Republic (4.5%), Malta and the United Kingdom (both 5.1%, November data for the UK). The highest unemployment rates were observed in Greece (24.6% in November 2015) and Spain (20.5%).

Compared with a year ago, the unemployment rate in January 2016 fell in twenty-four Member States, remained stable in Estonia and increased in Latvia (from 9.7% to 10.4%), Austria (from 5.5% to 5.9%) and Finland (from 9.1% to 9.4%). The largest decreases were registered in Spain (from 23.4% to 20.5%), Slovakia (from 12.3% to 10.3%), Ireland (from 10.1% to 8.6%) and Portugal (from 13.7% to 12.2%).

In January 2016, the unemployment rate in the United States was 4.9%, down from 5.0% in December 2015 and from 5.7% in January 2015.

Youth unemployment

In January 2016, 4.434 million young persons (under 25) were unemployed in the EU28, of whom 3.037 million were in the euro area. Compared with January 2015, youth unemployment decreased by 408 000 in the EU28 and by 217 000 in the euro area. In January 2016, the youth unemployment rate was 19.7% in the EU28 and 22.0% in the euro area, compared with 21.0% and 22.8% respectively in January 2015. In January 2016, the lowest rates were observed in Germany (7.1%), the Czech Republic (11.0%), Denmark (11.1%) and the Netherlands (11.2%) and the highest in Greece (48.0% in November 2015), Spain (45.0%), Croatia (44.1% in the fourth quarter 2015) and Italy (39.3%).