Euro area unemployment at 7.8%

Euro area unemployment at 7.8%

Euro area unemployment at 7.8%

The FINANCIAL -- The euro area (EA19) seasonally-adjusted unemployment rate was 7.8% in February 2019, stable compared with
January 2019 and down from 8.5% in February 2018. This remains the lowest rate recorded in the euro area since
October 2008.

The EU28 unemployment rate was 6.5% in February 2019, stable compared with January 2019 and
down from 7.1% in February 2018. This remains the lowest rate recorded in the EU28 since the start of the EU
monthly unemployment series in January 2000. These figures are published by Eurostat, the statistical office of
the European Union.

Eurostat estimates that 16.012 million men and women in the EU28, of whom 12.730 million in the euro area, were
unemployed in February 2019. Compared with January 2019, the number of persons unemployed decreased by
102 000 in the EU28 and by 77 000 in the euro area. Compared with February 2018, unemployment fell by 1.469
million in the EU28 and by 1.169 million in the euro area.

Member States

Among the Member States, the lowest unemployment rates in February 2019 were recorded in Czechia (1.9%),
Germany (3.1%) and the Netherlands (3.4%). The highest unemployment rates were observed in Greece (18.0%
in December 2018), Spain (13.9%) and Italy (10.7%).

Compared with a year ago, the unemployment rate fell in all Member States except Denmark and Austria where it
remained stable. The largest decreases were registered in Greece (from 20.8% to 18.0% between December 2017
and December 2018), Cyprus (from 9.4% to 7.1%), Spain (from 16.2% to 13.9%) and Estonia (from 6.4% to 4.2%
between January 2018 and January 2019).

In February 2019, the unemployment rate in the United States was 3.8%, down from 4.0% in January 2019 and

Youth unemployment

In February 2019, 3.309 million young persons (under 25) were unemployed in the EU28, of whom 2.337 million
were in the euro area. Compared with February 2018, youth unemployment decreased by 222 000 in the EU28
and by 181 000 in the euro area. In February 2019, the youth unemployment rate was 14.6% in the EU28 and
16.1% in the euro area, compared with 15.7% and 17.7% respectively in February 2018. In February 2019, the
lowest rates were observed in Germany (5.6%), Czechia (6.0%) and the Netherlands (6.4%), while the highest
were recorded in Greece (39.5% in December 2018), Italy (32.8%) and Spain (32.4%).