Unemployment in Europe rises slightly

The euro area (EA17) seasonally-adjusted unemployment rate was 11.3% in July 2012, stable compared with June. It was 10.1% in July 2011. The EU27 unemployment rate was 10.4% in July 2012, also stable compared with June. It was 9.6% in July 2011, according to data issued by Eurostat the European Union statistics office.

Malta's unemployment rate stands at 6.3%. Malta’s success was tarnished somewhat by an unemployment rate of 11.9% percent amongst young people below the age of 25, though it is good to note that the rate this June was two percentage points lower than last year’s.  

Eurostat estimates that 25.254 million men and women in the EU27, of whom 18.002 million were in the euro area, were unemployed in July 2012. Compared with June 2012, the number of persons unemployed increased by 43 000 in the EU27 and by 88 000 in the euro area. Compared with July 2011, unemployment rose by 2.104 million in the EU27 and by 2.051 million in the euro area.

Among the Member States, the lowest unemployment rates were recorded in Austria (4.5%), the Netherlands (5.3%), Germany and Luxembourg (both 5.5%), and the highest in Spain (25.1%) and Greece (23.1% in May 2012). 

Compared with a year ago, the unemployment rate fell in ten Member States, increased in sixteen and remained stable in Slovenia. The largest falls were observed in Estonia (13.2% to 10.1% between the second quarters of 2011 and 2012), Lithuania (15.2% to 13.0%) and Latvia (17.0% to 15.9% between the second quarters of 2011 and 2012). The highest increases were registered in Greece (16.8% to 23.1% between May 2011 and May 2012), Spain (21.7% to 25.1%) and Cyprus (7.7% to 10.9%).

Between July 2011 and July 2012, the unemployment rate for males increased from 9.8% to 11.3% in the euro area and from 9.5% to 10.5% in the EU27. The female unemployment rate rose from 10.4% to 11.4% in the euro area and from 9.8% to 10.4% in the EU27.

In July 2012, 5.468 million young persons (under 25) were unemployed in the EU27, of whom 3.388 million were in the euro area. Compared with July 2011, youth unemployment rose by 182 000 in the EU27 and by 204 000 in the euro area. In July 2012, the youth unemployment rate was 22.5% in the EU27 and 22.6% in the euro area. In July 2011, it was 21.3% and 20.7% respectively. In July 2012 the lowest rates were observed in Germany (8.0%), Austria (8.9%) and the Netherlands (9.2%), and the highest in Greece (53.8% in May 2012) and Spain (52.9%).

In July 2012, the unemployment rate was 8.3% in the USA. In June 2012, the unemployment rate was 4.3% in Japan.