Eurostat: Unemployment in the EU in September at ‘pre-crisis’ level

Unemployment in the European Union fell in August to its lowest level in nearly nine years, while in the eurozone it remained at its lowest level in just over eight years, according to data from the European statistical office Eurostat.

In the EU, the unemployment rate, determined by the ILO methodology, fell to 7.6 percent in August, reaching its lowest level since November 2008. In July, it was 7.7 percent and in August of last year, it was 8.5 percent.

In the 19-member eurozone, the unemployment rate remained at 9.1 percent in August for the third consecutive month, which is its lowest level since February 2009. In August of last year, it was 9.9 percent, Eurostat’s statement said.

In August, a total of 18.747 million citizens were unemployed in the EU, of which 14.751 million were in the eurozone. This number in the EU decreased by 104 thousand compared to July, and in the eurozone by 42 thousand.

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Compared to August of last year, the number of unemployed in the EU is lower by 1.923 million, and in the eurozone by 1.319 million.

Among EU countries, the lowest unemployment rate in August was recorded by the Czech Republic, at 2.9 percent, followed by Germany, at 3.6 percent, and Malta, at 4.2 percent.

The highest unemployment rate was recorded by Greece, at 21.2 percent in June. Spain follows with 17.1 percent, Eurostat reports.

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In Croatia, according to Eurostat data, the unemployment rate measured by the ILO methodology was 10.9 percent in August, which means it remained unchanged compared to the revised estimate for July. According to Eurostat’s report, 195 thousand citizens of Croatia were unemployed in August.

Compared to last year, only Finland recorded the same unemployment rate in August, while in all other countries it decreased – most notably in Cyprus, from 13.1 to 10.7 percent.

Among young people under 25, the unemployment rate in the EU fell to 16.7 percent in August, down from 16.8 percent in the previous month, as determined by Eurostat. In the eurozone, it remained unchanged for the third consecutive month at 18.9 percent.

In August, there were 3.75 million young people unemployed in the European Union, of which 2.67 million were in the eurozone. This represents a year-on-year decrease of 426 thousand in the EU and 240 thousand in the eurozone.

Among EU countries, Germany recorded the lowest unemployment rate in this age group, at 6.4 percent, while Greece recorded the highest, at 43.3 percent in June, followed by Spain at 38.7 percent and Italy at 35.1 percent.

Eurostat revised its estimate of the youth unemployment rate in Croatia at the end of the second quarter to 26.1 percent, down from the previously estimated 26.4 percent.