Unemployment rate in Eurozone at 7.3%

According to Eurostat, the seasonally adjusted unemployment rate in the Eurozone amounted to 7.3% in June 2008 which is the same rate as in May. One year earlier, in June 2007, it had been 7.4%. In the EU27 the rate was 6.8% in June 2008. One year earlier there were 7.1% unemployed people in the EU27. In the USA and Japan unemployment rates were 5.5% nd 4.1% respectively in June this year.

Eurostat estimates that in June 2008 the number of unemployed men and women in the EU27 amounted to about 16.3 million people, 11.4 of whom in the Eurozone. As compared to May 2008 the number of unemployed people increased by 15.000 and 58.000 respectively. In comparison to June 2007 there were 0.6 million jobless people less in the EU27 whereas in the Eurozone their number remained unchanged.

Among EU member states the unemployment rate was smallest in Denmark (2.6%) and the Netherlands (2.8%). Most unemployed people were registered in Spain (10.7%) and Slovakia (10.5%).

Seen over a 12-months period there was a reduction in the number of unemployed people in 21 EU member states, in five countries this number increased and in one member state the unemployment rate did not change. The biggest reduction was registered in Poland (from 9.5% to 7.3%) and Bulgaria (from 7.0% to 5.7%). Most significant increases were to be found in Spain (from 8.1% to 10.7%) and Ireland (from 4.5% to 5.7%).

Comparing June 2007 to June 2008, unemployment among men in the Eurozone increased from 6.6% to 6.7%. In the EU72 it fell from 6.6% to 6.4%. Among women unemployment fell both in the Eurozone and the EU27 from 8.4% to 8.1% and from 7.8% to 7.3% respectively. GERMAN

Explanations:

  • Eurozone (EZ15): Belgium, Germany, Ireland, Greece, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal, Slovenia, Finland, Cyprus and Malta
  • EU27: Belgium, Bulgaria, Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Luxembourg, Hungary, Malta, the Netherlands, Austria, Portugal, Poland, Romania, Slovenia, Slovakia, Finland, Sweden and Great Britain