Europe / Euro area unemployment rate at 12.2%, 24.1% for youth

The number of people out of work in the euro zone rose slightly in September, according to official data published on Thursday, showing that signs of renewed economic growth have not yet filtered through to the labor market. (via Jobless Rate in Euro Zone Stays at Record – NYTimes.com.)

The Official Release

The euro area (EA17) seasonally-adjusted unemployment rate was 12.2% in September 2013, stable compared with August. The EU281 unemployment rate was 11.0%, also stable compared with August. In both zones, rates have risen compared with September 2012, when they were 11.6% and 10.6% respectively. These figures are published by Eurostat, the statistical office of the European Union.

In September 2013, 26.872 million men and women were unemployed in the EU28, of whom 19.447 million were in the euro area. Compared with August 2013, the number of persons unemployed went up by 61 000 in the EU28 and by 60 000 in the euro area. Compared with September 2012, unemployment rose by 978 000 in the EU28 and by 996 000 in the euro area.

Member States

Among the Member States, the lowest unemployment rates were recorded in Austria (4.9%), Germany (5.2%) and Luxembourg (5.9%), and the highest in Greece (27.6% in July 2013) and Spain (26.6%).

Compared with a year ago, the unemployment rate increased in sixteen Member States, fell in eleven and remained stable in the Czech Republic. The highest increases were registered in Cyprus (12.7% to 17.1%) and Greece (25.0% to 27.6% between July 2012 and July 2013). The largest decreases were observed in Latvia (15.6% to 11.3% between the second quarters of 2012 and 2013) and Estonia (10.0% to 8.3% between August 2012 and August 2013).

Youth unemployment

In September 2013, 5.584 million young persons (under 25) were unemployed in the EU28, of whom 3.548 million were in the euro area. Compared with September 2012 youth unemployment decreased by 57 000 in the EU28, but increased by 8 000 in the euro area. In September 2013, the youth unemployment rate was 23.5% in the EU28 and 24.1% in the euro area, compared with 23.1% and 23.6% respectively in September 2012. In September 2013, the lowest rates were observed in Germany (7.7%) and Austria (8.7%), and the highest in Greece (57.3% in July 2013), Spain (56.5%) and Croatia (52.8% in the third quarter of 2013).

Chosen excerpts by Job Market Monitor. Read the whole story at 

via September 2013 Euro area unemployment rate at 12.2% EU28 at 11.0%