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Unemployment lowers, but is still at a high level

Statistical Office of the European Commission (Eurostat) has published the latest data on unemployment in the EU. In the report, Eurostat noted that the average unemployment rate in all Member States (EU-28) in December 2014, was at 9.9%, which is 0.1 percentage points (pp) less than a month before and 0.7 pp less than in December 2013. This is the first time since October 2011 that the unemployment rate in the EU-28 was below 10%. In the Euro-area (EA-18), unemployment is at a higher level. For December 2014, Eurostat measured 11.4% unemployment rate, the lowest level since August 2012. Unemployment in the Euro-zone decreased by 0.1 pp compared to November 2014 and by 0.4 pp compared to December 2013.

Among the Member States, the lowest unemployment rates for December 2014 were recorded in Germany (4.8%), Austria (4.9%) and the Czech Republic and Malta (both 5.8%), while the highest in Greece (25.8% -October 2014), Spain (23.7%) and Cyprus and Croatia (both 16.4%).

Youth unemployed (people aged less than 25 years) has also decreased. In the EU-28, the youth unemployment rate for December 2014 was 21.4% (1.7 pp less than the previous year), while in the Euro-area, the rate was 23.0% (0.9 pp less than in December 2013). The lowest rate of youth unemployment was recorded in Germany (7.2%), Austria (9.0%) and the Netherlands (9.6%), and the highest in Spain (51.4%), Greece (50.6% – October 2014), Croatia (44.8% – the last quarter of 2014) and Italy (42.0%).

Slovenia recorded in December 2014 9.7% unemployment rate, which is the same as previous month and 0.2 pp less than in December 2013. Youth unemployment however is remaining at 24.1%, the same as month before, but 4% higher as in December 2013.

Source: http://ec.europa.eu/eurostat/documents/2995521/6581668/3-30012015-AP-EN.pdf/9d4fbadd-d7ae-48f8-b071-672f3c4767dd

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