Euro area unemployment stable
Euro area unemployment has remained relatively stable at 11.5% in August, it remained unchanged compared to the previous month and improved slightly, compared to 12% the previous year, according to the latest data released by Eurostat.
Meanwhile, the EU 28 unemployment rate reached 10.1%, the lowest level since February 2012. Eurostat estimates that 24.642 million men and women in the EU28, of whom 18.326 million were in the euro area, were unemployed in August 2014. Compared with July 2014, the number of persons unemployed decreased by 134 000 in the EU28 and by 137 000 in the euro area.
The gap between eurozone core and periphery remained persistent with the lowest unemployement rates being recorded in Germany at 4.9% and in Austria at 4.7%, while unemployment remained high in Greece at 27% and Spain at 24.4%.
The largest decreases were registered in Hungary from 10.2% to 7.8%, Portugal, from 16.1% to 14.0% , Spain from 26.1% to 24.4% and Croatia from 18.2% to 16.5% year on year. The highest increases were registered in Finland from 8.1% to 8.6% and France from 10.2% to 10.5%.