Eurozone Unemployment June 2016


Unemployment rate unchanged in June

Conditions in the labor market in the common-currency bloc remained broadly unchanged in June according to recently released data by Eurostat. The number of unemployed persons fell by 37,000, which followed May’s decrease of 98,000 job seekers. The unemployment rate in June was steady at May’s 10.1%, which represented the lowest rate since July 2011.

Looking at the countries in the region, the unemployment rate was unchanged in almost half of the countries observed, with only five countries seeing a rise in the rate. However, notable divergences persist in the labor market among core Eurozone countries and those on the periphery. Greece is by far the economy in the Eurozone with the highest unemployment rate (23.3%, data refer to April), followed by Spain (19.9%) and Cyprus (11.7%).

At the other end of the spectrum, Malta (4.0%), Germany (4.2%) and the Netherlands (6.1%) registered the lowest unemployment rates in the Eurozone in June. Among the remaining major economies, Italy had the highest unemployment rate with 11.6%, followed by France with 9.9%.

In 2015 as a whole, unemployment in the Eurozone averaged 10.9%, which is the lowest average rate since 2012. FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 10.1% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel expects the unemployment rate to average 9.8%.

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Eurozone Unemployment Chart

Euro Unemployment June 2016

Note: Unemployment, % of active population. Data for Greece refer to April and data for Estonia to May.
Source: Eurostat.

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