Trade Resources Economy The Euro Area (EA17) Seasonally Stable Compared with June

The Euro Area (EA17) Seasonally Stable Compared with June

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The euro area (EA17) seasonally-adjusted unemployment rate was 12.1% in July 2013, stable compared with June. The EU unemployment rate was 11.0%, also stable compared with June. In both zones, rates have risen compared with July 2012, when they were 11.5% and 10.5% respectively.

Eurostat estimates that 26.654 million men and women in the EU, of whom 19.231 million were in the euro area, were unemployed in July 2013. Compared with June 2013, the number of persons unemployed decreased by 33,000 in the EU and by 15,000 in the euro area. Compared with July 2012, unemployment rose by 995,000 in the EU and by 1.008 million in the euro area.

Member States

Among the Member States, the lowest unemployment rates were recorded in Austria (4.8%), Germany (5.3%) and Luxembourg (5.7%), and the highest in Greece (27.6% in May 2013) and Spain (26.3%).

Compared with a year ago, the unemployment rate increased in seventeen Member States and fell in eleven. The highest increases were registered in Cyprus (12.2% to 17.3%), Greece (23.8% to 27.6% between May 2012 and May 2013), Slovenia (9.3% to 11.2%) and the Netherlands (5.3% to 7.0%). The largest decreases were observed in Latvia (15.7% to 11.5% between the second quarters of 2012 and 2013) and Estonia (10.1% to 7.9% between June 2012 and June 2013).

In July 2013, the unemployment rate in the United States was 7.4%, down from 7.6% in June and from 8.3% in July 2012.

Youth unemployment

In July 2013, 5.560 million young persons (under 25) were unemployed in the EU, of whom 3.500 million were in the euro area. Compared with July 2012, youth unemployment decreased by 53,000 in the EU and by 16 000 in the euro area. In July 2013, the youth unemployment rate was 23.4% in the EU and 24.0% in the euro area, compared with 22.9% and 23.3% respectively in July 2012. In July 2013, the lowest rates were observed in Germany (7.7%), Austria (9.2%) and Malta (10.6%), and the highest in Greece (62.9% in May 2013), Spain (56.1%) and Croatia (55.4% in the second quarter of 2013).

Source: http://www.internationaltradenews.com/en/news/42432/Euro-area-unemployment-rate-at-12.1.html
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Unemployment: Euro Area Unemployment Rate at 12.1%
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