Euro area unemployment at 7.9%, EU28 at 6.6%

Date: February 01, 2019

According to the latest report published by Eurostat, the statistical office of the European Union, unemployment within the EA19 remained stable month over month for December 2018 at 7.9%. This figure when compared to 2017 statics represents a decrease in unemployment moving from 8.6% twelve months earlier to the current 7.9%. Additionally, the EA28 recorded at similar decrease in unemployment as December rates were stable when compared with Novembers. Also, December 2018’s employment was recorded at 6.6%, a decrease when compared to 7.2% recorded in 2018

According to Euro Stats, the number of unemployed in the euro area amounted to 12.919 million in December of 2018. When compared with November 2018 statistics, the number of unemployed persons decreased by 75,000 over the time period in both the EU28 and euro zone. When compared with 2017, unemployment fell by 1.533 million in the EU28 and by 1.174.

When looking at individual member states, “the lowest unemployment rates in December 2018 were recorded in Czechia (2.1%), Germany (3.3%), Poland (3.5%) and the Netherlands (3.6%). The highest unemployment rates were observed in Greece (18.6% in October 2018), Spain (14.3%) and Italy (10.3%).”

In comparison with a year ago, France was the only member state to record a stable unemployment rate while Greece posted the largest decline from 21% as at October 2017 to 18.6% for October 2018. Spain’s unemployment rate moved from 16.5% to 14.3%, while Croatia’s rate fell to 7.7% from 9.7%.

Youth Unemployment

In December of 2018, the EU28 recorded the number of unemployed young person’s (Under 25 years old) amounting to 3.365 million. Approximately 2.391 million of the 3.365 million persons were in the euro area. Compared with the prior year, youth unemployment decreased by 249 000 in the EU28 and by 141 000 in the euro area. In December of 2018, “the youth unemployment rate was 14.9% in the EU28 and 16.6% in the euro area, compared with 16.1% and 17.8% respectively in December 2017”. Notably, the lowest youth unemployment rates were observed in Czechia (5.8%), Germany (6.0%) and the Netherlands (6.6%). meanwhile the highest were recorded in Greece (38.5% in October 2018), Spain (32.7%) and Italy (31.9%).

 

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2019-02-01T17:57:44+00:00