Eurozone Unemployment

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Eurozone: Unemployment falls to lowest level in more than two years

January 30, 2015

According to data released by Eurostat on 30 January, the number of unemployed fell by 157,000 people in December. The figures followed the 39,000 fall that was recorded in November. As a result, the unemployment rate fell to 11.3% in December, which was down from the 11.4% recorded in November, marking the lowest rate since May 2012.

Divergences in labor market developments persist among the core European nations and the peripheral economies. Greece (25.8%, October data), Spain (23.7%) and Cyprus (16.4%) were the Euro-area members with the highest unemployment rates. At the other end of the spectrum, Austria (4.9%), Germany (4.8%) and Malta (5.8%) recorded the lowest unemployment rates. Among the remaining major economies, Italy had the highest jobless rate with 12.9%, followed by France at 10.3%.

FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 11.3% in 2015, which is up 0.1 percentage points from last month’s forecast. For 2016, the panel expects the unemployment rate to average 11.0%.


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Euro Unemployment December 2014 0

Note: Unemployment, % of active population. Data for Estonia refer to November 2014, data for Latvia refer to September 2014 and data for Greece refer to October 2014.
Source: Eurostat.


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