The Eurozone unemployment rate fell at the lowest level since August 2011, according to Eurostat’s most recent figures. Still, January’s unemployment rate was above ten percent, measured at 10.3.
Eurostat, announced that January’s unemployment rate fell by 0.1 percent compared with December and by one percent compared with January 2015. On the other hand, the EU unemployment rate was far below the unsustainable ten percent, as it was measured at 8.9 percent, down from 9 percent in December 2015, and from 9.8 percent in January 2015. For the EU, January’s unemployment rate is the lowest recorded since May 2009.
According to Eurostat, 21.789 million men and women in the EU28, of whom 16.647 million were in the euro area, were unemployed in January 2016. Compared with December 2015, the number of persons unemployed decreased by 163 000 in the EU28 and by 105 000 in the euro area.
Among the Member States, the lowest unemployment rates in January 2016 were recorded in Germany (4.3 percent), the Czech Republic (4.5 percent), Malta and the United Kingdom (both 5.1 percent, November data for the UK). On the other hand, the highest unemployment rates were once again observed in Greece (24.6 percent in November 2015) and Spain (20.5 percent).
Eurostat, stressed that in January 2016, the unemployment rate in the United States was 4.9 percent, down from 5 percent in December 2015 and from 5.7 percent in January 2015.
Youth unemployment remains a great social and economic problem for both the Eurozone economy and the EU as in January 2016, the youth unemployment rate was 19.7 percent in the EU28 and 22 percent in the euro area, compared with 21 percent and 22.8 percent respectively in January 2015.
In January 2016, 4.434 million young persons (under 25) were unemployed in the EU28, of whom 3.037 million were in the euro area. The lowest rates were observed in Germany (7.1 percent), the Czech Republic (11 percent), Denmark (11.1 percent) and the Netherlands (11.2 percent) and the highest in Greece (48 percent in November 2015), Spain (45 percent), Croatia (44.1 percent in the fourth quarter 2015) and Italy (39.3 percent).