November 4, 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 7.5% in September 2019, stable in August 2019 and down from 8.0% in September 2018.” Notably, since July 2008, this is the lowest rate recorded in the euro area. Additionally, “the EU28 unemployment rate was 6.3% in September 2019, stable compared with August 2019 and down from 6.7% in September 2018.”
In the EU28, there were 15.635 million men and women, of whom 12.335 million in the euro area were unemployed in September 2019. Additionally, relative to August 2019, the number of persons unemployed rose by 48 000 in the EU28 and by 33 000 in the euro area. It was further stated that, “compared with September 2018, unemployment fell by 889 000 in the EU28 and by 738 000 in the euro area.”
Member States
Notably, among the member states, in September 2019 the lowest unemployment rates were observed in Czechia (2.1%) and Germany (3.1%). While, the highest was seen in Greece (16.9% in July 2019) and Spain (14.2%).
Compared with a year ago, there was a fall in the unemployment rate for 22 Member States except Belgium, Portugal and Romania, which remained stable while it increased in Lithuania (from 6.3% to 6.5%), Denmark (from 5.0% to 5.3%), and Sweden (from 6.3% to 7.3%). Greece (from 19.1% to 16.9% between July 2018 and July 2019), Cyprus (from 8.0% to 6.6%) and Estonia (from 5.3% to 3.9% between August 2018 and August 2019) registered the largest decreases.
Furthermore, the unemployment rate in the United States in September 2019 was 3.5% compared with 3.7% in August 2019 and down from 3.7% in September 2018.
Youth Unemployment
In September 2019, the EU28 recorded the number of unemployed young person’s (Under 25 years old) amounting to 3.223 million. Approximately 2.283 million of the 3.223 million persons were in the euro area. Compared with the prior year, youth unemployment decreased by 145 000 in the EU28 and by 109 000 in the euro area. “In September 2019, the youth unemployment rate was 14.5% in the EU28 and 15.9% in the euro area, compared with 15.0% and 16.7% respectively in September 2018.” Notably, the lowest youth unemployment rates were observed Czechia (4.4%), Germany (5.9%) and the Netherlands (7.2%). Meanwhile the highest were recorded in Greece (33.2% in the second quarter of 2019), Spain (32.8%) and Italy (28.7%).
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