EU: Unemployment rate at 6.7 pct in October

By Muhammed Ali Gurtas

ANKARA (AA) – The unemployment rate in the EU was 6.7 percent in October, according to official data released on Friday.

Eurostat said last month the EU saw the lowest level in unemployment rate since January 2000.

On a monthly basis, the EU28 unemployment rate remained same, as the figure fell 0.7 percentage point compared to 7.4 percent in October, 2017.

"The euro area [EA19] seasonally-adjusted unemployment rate was 8.1 percent in October 2018, stable compared with September 2018 and down from 8.8 percent in October 2017," the statistical office said.

"This remains the lowest rate recorded in the euro area since November 2008."

The eurozone/euro area or EA19 represents member states that use the single currency — euro — while the EU28 includes all member countries of the bloc.

As of October, some 16.6 million men and women in the EU28 — of whom nearly 13.2 million in the euro area — were unemployed, according to the Eurostat estimation.

"Compared with September 2018, the number of persons unemployed decreased by 4,000 in the EU28 and increased by 12,000 in the euro area.

"Compared with October 2017, unemployment fell by 1.52 million in the EU28 and by 1.12 million in the euro area," Eurostat said.

The highest unemployment rates were in Greece with 18.9 percent — August figures –, and Spain with 14.8 percent, while the lowest rates were in Czech Republic with 2.2 percent and Germany with 3.3 percent.

Official figures revealed that nearly 3.5 million young people — aged under 25 — were unemployed in the EU, of whom 2.503 million were in the euro area.

"In October 2018, the youth unemployment rate was 15.3 percent in the EU28 and 17.3 percent in the euro area, compared with 16.3 percent and 18.1 percent respectively in October 2017.

"In October 2018, the lowest rates were observed in Czechia [5.2 percent], Germany [6.2] and the Netherlands [7.2], while the highest were recorded in Greece [36.8 percent in August], Spain [34.9] and Italy [32.5]," Eurostat added.