Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

EU unemployment drops to lowest level in nearly two decades: Eurostat

Published 01/10/2019, 07:26 am
© Reuters.

The unemployment rate in the European Union has dropped to its lowest level in more than 19 years, Eurostat announced on Monday.

According to the EU's official statistics agency, unemployment in the bloc stood at 6.2% in August, down from 6.3% the month before and from 6.7% in August 2018.

That amounts to more than 15.4 million men and women out of work.

"This is the lowest rate recorded in the EU28 since the start of the EU monthly series in January 2000," Eurostat said in a statement.

"Compared with a year ago, the unemployment rate fell in 24 member states, remained stable in Luxembourg, while it increased in Denmark (from 4.9% to 5.0%), Lithuania (from 6.1% to 6.6%) and Sweden (from 6.3% to 7.1%," it added.

Czechia recorded the lowest rate of all member state at just 2%. It was followed by Germany and Malta with 3.1% and 3.3% respectively.

At the bottom of the table is Greece where the rate stood at 17% in June — down from 19.2% in June 2018.

Spain was the only other member state to go above the 10% threshold with 13.5%.

The rate was higher for the euro area — 7.4%, its lowest level since May 2008 — and for young people with youth unemployment recorded at 14.2% for the entire bloc and 15.4% in the euro area.

View on euronews

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.