Eurozone unemployment falls slightly to reach the lowest rate since May 2008

Luxembourg – The rate of joblessness in the eurozone currency area fell to 7.4 per cent in August, according to official data, down from 7.5 per cent in July and 8 per cent in August 2018.

EU unemployment drops

Unemployment in the 19 eurozone nations was at its lowest rate since May 2008, according to the figures released Monday by the European Union’s statistics agency, Eurostat.

Across all the 28 EU member states, the proportion of unemployment was at 6.2 per cent in August, a drop of 0.1 per cent from July, the lowest rate since the EU started compiling monthly data in 2000.

Youth unemployment also fell but remained far higher than among people older than 25, at 14.2 per cent across the 28 member states and 15.4 per cent in the euro area.

Rates across different countries

The highest rates of youth joblessness were seen in Greece (33 per cent as recorded in the second quarter of 2019), Spain (32.2 per cent) and Italy (27.1 per cent.)

The EU’s lowest overall unemployment rate was recorded in the Czech Republic at 2 per cent. Within the eurozone, the lowest figure was in Germany at 3.1 per cent.

All figures were seasonally adjusted.

 


Youth unemployment in the EU