EU records lowest unemployment rate in July since 2008



Ankara, August 31 (TNS): The lowest figure since 2008 was recorded in European Union’s unemployment rate in July which stood at 6.8 percent, in the 28 member European bloc of countries, an official data of EU body was released on Friday.

Eurostat said the EU28 unemployment rate fell 0.1 percentage point on a monthly basis 6.9 percent in June and it went down 0.8 percentage point from 7.6 percent in the same month last year.

The eurozone (EA19) unemployment rate was 8.2 percent last month, down from 9.1 percent in July 2017 the lowest rate recorded in the euro area since November 2008.

“Eurostat estimates that 16.8 million men and women in the EU28, of whom 13.3 million in the euro area, were unemployed in July 2018,” the statistical office said.

“Compared with June 2018, the number of persons unemployed decreased by 82,000 in the EU28 and by 73,000 in the euro area,” it said. “Compared with July 2017, unemployment fell by 1.9 million in the EU28 and by 1.3 million in the euro area.”

The official report also showed that the highest unemployment rates were recorded in Greece with 19.5 percent May figures, Spain with 15.1 percent and Italy with 10.4 percent.

The lowest rates were observed in the Czech Republic with 2.3 percent, Germany and Poland with 3.4 percent and 3.5 percent, respectively.

Eurostat noted that around 3.3 million young people aged under 25 were unemployed in the EU.

“In July 2018, the youth unemployment rate was 14.8 percent in the EU28 and 16.6 percent in the euro area, compared with 16.8 percent and 18.7 percent respectively in July 2017,” it said, adding:

“The lowest rates were observed in Germany (6.1 percent), Malta (6.3) and the Czech Republic (6.6), while the highest were recorded in Greece (39.7 percent in May 2018), Spain (33.4) and Italy (30.8).”