Euro area unemployment at 8.1%

Euro area unemployment at 8.1%

Euro area unemployment at 8.1%

The FINANCIAL -- The euro area (EA19) seasonally-adjusted unemployment rate was 8.1% in October 2018, stable compared with September 2018 and down from 8.8% in October 2017.

This remains the lowest rate recorded in the euro area since November 2008. The EU28 unemployment rate was 6.7% in October 2018, stable compared with September 2018 and down from 7.4% in October 2017. This remains the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000. These figures are published by Eurostat, the statistical office of the European Union.

Eurostat estimates that 16.626 million men and women in the EU28, of whom 13.172 million in the euro area, were unemployed in October 2018.

Compared with September 2018, the number of persons unemployed decreased by 4 000 in the EU28 and increased by 12 000 in the euro area.

Compared with October 2017, unemployment fell by 1.523 million in the EU28 and by 1.121 million in the euro area.

Among the Member States, the lowest unemployment rates in October 2018 were recorded in Czechia (2.2%) and Germany (3.3%). The highest unemployment rates were observed in Greece (18.9% in August 2018) and Spain (14.8%).

Compared with a year ago, the unemployment rate fell in all Member States. The largest decreases were registered in Croatia (from 10.2% to 8.1%), Greece (from 20.8% to 18.9% between August 2017 and August 2018) Spain (from 16.6% to 14.8%) and Portugal (from 8.4% to 6.7%).

In October 2018, the unemployment rate in the United States was 3.7%, stable compared with August 2018 and down from 4.1% in October 2017.