Unemployment in Europe – The lowest rate recorded in the euro area since March 2012, but 4.707 million young persons were unemployed

The euro area1 (EA19) seasonally-adjusted unemployment rate was 11.1% in May 2015, stable compared with April 2015 , and down from 11.6% in May 2014. This is the lowest rate recorded in the euro area since March 2012. The EU28 unemployment rate was 9.6% in May 2015, also stable compared with April 2015 and down from 10.3% in May 2014. This is the lowest rate recorded in the EU28 since July 2011. These figures are published by Eurostat, the statistical office of the European Union. Eurostat estimates that 23.348 million men and women in the EU28, of whom 17.726 million in the euro area, were unemployed in May 2015. Compared with April 2015, the number of persons unemployed decreased by 38 000 in the EU28 and by 35 000 in the euro area. Compared with May 2014, unemployment fell by 1.575 million in the EU28 and by 939 000 in the euro area.

Youth unemployment

In May 2015, 4.707 million young persons (under 25) were unemployed in the EU28, of whom 3.136 million were in the euro area. Compared with May 2014, youth unemployment decreased by 450 000 in the EU28 and by 300 000 in the euro area. In May 2015, the youth unemployment rate5 was 20.6% in the EU28 and 22.1% in the euro area, compared with 22.2% and 23.8% respectively in May 2014. In May 2015, the lowest rates were observed in Germany (7.1%), Denmark (10.0%) and Austria (10.1%), and the highest in Greece (49.7% in March 2015), Spain (49.3%), Croatia (43.6% in the first quarter 2015) and Italy (41.5%).

Chosen excerpts by Job Market Monitor. Read the whole story at  May 2015 Euro area unemployment rate at 11.1% EU28 at 9.6%