Eurozone Unemployment Remains at 12%

According to the latest data published by the European Commission’s statistics agency, Eurostat, the number of people registered as unemployed in the eurozone reached a total of 19.17 million in August, representing a reduction of 5,000 unemployed compared to July, and the third consecutive monthly decline, although the rate of unemployment in the region remained at 12%, half a point above the figure for the previous year.

The three consecutive months of slight declines in the number of unemployed in the eurozone, has resulted in a reduction of 34,000 unemployed since June, although the figure still exceeds by 895,000 the number of people registered as unemployed in August 2012.

In the whole of the European Union, the unemployment rate in August remained stable at 10.9%, three tenths above the figure for August 2012, registering a total of 26.59 million unemployed, which is 7,000 less than in July, but still 882,000 more unemployed than in August 2012. Among the member states, the lowest unemployment rates were recorded in Austria (4.9%), Germany (5.2%) and Luxembourg (5.8%), while the highest were registered in Greece (27.9% in June 2013) and Spain (26.2%).

Eurostat reported that the male unemployment rate in the eurozone reached 11.9% in August, in line with the July data, while in the EU it fell by one tenth to 10.8%. The female unemployment rate in the eurozone stood at 12.3% in August, while in the EU it remained at 11%. Spain’s male unemployment rate was the highest among the countries of the EU, at 25.2%, one tenth less than in July, and ahead of Greece, which in June reached 24.9%. Greece recorded a female unemployment rate of 31.9% in June, while in Spain it reached 27.4% in August, one tenth more than in July.

For those in the group under 25 years of age, the Eurostat data shows that a total of 3.45 million young people were unemployed in the eurozone in August, which represents a decrease of 22,000 compared with July, and resulted in the rate of unemployment being reduced by one tenth, to 23.7%. In the whole of the EU, the unemployment rate among the under 25s also dropped a tenth, to 23.3%, representing a total of 5.49 million unemployed, compared to the 5.53 million registered in July.

By country, Diario Sur reported that Greece once again recorded the highest rate of youth unemployment (61.5% in June), followed by Spain, where unemployment among the under 25s rose one tenth over the previous month and stood at 56%, although the number of young unemployed people fell by 14,000, to a total of 863,000.