Euro area unemployment rate at 10.9%

The FINANCIAL — The euro area (EA19) seasonally-adjusted unemployment rate was 10.9% in July 2015, down from 11.1% in June 2015, and from 11.6% in July 2014. This is the lowest rate recorded in the euro area since February 2012. The EU28 unemployment rate was 9.5% in July 2015, down from 9.6% in June 2015, and from 10.2% in July 2014. This is the lowest rate recorded in the EU28 since June 2011. These figures are published by Eurostat, the statistical office of the European Union.

Eurostat estimates that 23.067 million men and women in the EU28, of whom 17.532 million in the euro area, were unemployed in July 2015. Compared with June 2015, the number of persons unemployed decreased by 232 000 in the EU28 and by 213 000 in the euro area. Compared with July 2014, unemployment fell by 1.648 million in the EU28 and by 1.116 million in the euro area.

Member States

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Among the Member States, the lowest unemployment rates in July 2015 were recorded in Germany (4.7%), the Czech Republic and Malta (both 5.1%), and the highest in Greece (25.0% in May 2015) and Spain (22.2%).

Compared with a year ago, the unemployment rate in July 2015 fell in twenty-three Member States, increased in three and remained stable in Belgium and Romania. The largest decreases were registered in Bulgaria (11.5% to 9.4%), Spain (24.3% to 22.2%), Greece (27.0% to 25.0% between May 2014 and May 2015), Portugal (14.1% to 12.1%), Ireland (11.3% to 9.5%) and Croatia (16.9% to 15.1%). The increases were registered in Finland (8.7% to 9.7%), France (10.3% to 10.4%) and Austria (5.7% to 5.8%).

In July 2015, the unemployment rate in the United States was 5.3%, stable compared to June 2015 and down from 6.2% in July 2014.

Youth unemployment

In July 2015, 4.634 million young persons (under 25) were unemployed in the EU28, of whom 3.093 million were in the euro area. Compared with July 2014, youth unemployment decreased by 465 000 in the EU28 and by 336 000 in the euro area. In July 2015, the youth unemployment rate was 20.4% in the EU28 and 21.9% in the euro area, compared with 22.0% and 23.8% respectively in July 2014. In July 2015, the lowest rates were observed in Germany (7.0%), Malta (8.7%) and Estonia (9.5% in June 2015), and the highest in Greece (51.8% in May 2015), Spain (48.6%), Croatia (43.1% in the second quarter 2015) and Italy (40.5%).