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Unemployment remaining high in EU

The economic recovery is still not reflected in the labor market. As shown in the latest report from Eurostat, the level of unemployment in the euro area in May 2014 remain unchanged at 11.6%, compared to the previous month. Compared to May last year,  unemployment reduced slicghty for 0.4%. In the EU, the EU’s statistical office recorded a minimal drop in unemployment levels between April and May, by 0.1% to 10.3%. Compared to May last year, the unemployment rate decreased by 0.6%.

Among Member States, the lowest unemployment rate was recorded Austria (4.7%), followed by Germany (5.1%) and Malta (5.7%). While the highest in Greece (26.8%) and Spain (25.1%). In comparison with the same period last year, the unemployment rate fell in 21 Member States, increased in 6, while remained unchanged in Austria.

The big problem still remains youth unemployment. It remains high, despite a slight fall compared to last year in May. In the Euro-zone, the rate of unemployed young people (under 25 years) was 23.3%, which is 0.6% less than the year before. In the entire EU it was 22.2% which is 1.4% lower than a year earlier. The highest youth unemployment rate is still recorded in Greece (57.7%), Spain (54%) and Croatia (48.7%). Lowest in Germany (7.8%), Austria (8.9%) and the Netherlands (10, 8%).

Source: http://europa.eu/rapid/press-release_STAT-14-103_en.pdf

 

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