Euro area unemployment at 7.9% in November 2018

Market News

January 9, 2019

Date: January 09, 2019

According to the latest report published by Eurostat, the statistical office of the European Union, “the euro area (EA19) seasonally-adjusted unemployment rate was 7.9% in November 2018, down from 8.0% in October 2018 and from 8.7% in November 2017.” Notably, since the start of the EU monthly unemployment series in January 2000, this is the lowest rate recorded in the EU28.

“In the eu28, 16.491 million men and women, of whom 13.040 million in the euro area, were unemployed in November 2018,” Eurostat highlighted. Additionally, relative to October 2018, the number of persons unemployed decreased by 107,000 in the EU28, whereas there was a decline by 90,000 in the euro area. It was further stated that, “compared with November 2017, unemployment fell by 1.489 million in the EU28 and by 1.1135 million in the euro area.”

Member States

Notably, among the member states, in November 2018 the lowest unemployment rates were recorded in Czechia (1.9%), Germany (3.3%) and the Netherlands (3.5%). While, the highest was seen in Greece (18.6% in September 2018) and Spain (14.7%).

Compared with a year ago, there was a fall in the unemployment rate for all Member States except Estonia, which remained stable Croatia (from 10.0% to 7.8%), Greece (from 20.8% to 18.6% between September 2017 and September 2018) and Spain (from 16.5% to 14.7%) registered the largest decreases.

Furthermore, the unemployment rate in the United in November 2018 was 3.7%, which was stable compared with October 2018 and down from 4.1% in November 2017.

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