The unemployment in the European Union (EU) dropped slightly in February on a monthly basis to a level of 7.1%. On an annual basis, there was a more pronounced decrease compared to 8.0% in February 2017, a difference of 0.9 percentage points, according to Economics Herald. This is the lowest unemployment rate since September 2008. The unemployed in the region in the first month of the year were a total of 17.632 million people.
As for the Eurozone, the unemployment also declined slightly in February, compared to January 2018, at 8.5%. On an annual basis, however, there is again a decrease of 1 percentage point. Thus, the level of unemployment in the Eurozone remains at its lowest level since December 2008. The unemployed in the region in January were 13.91 million.
Among the EU Member States, the lowest unemployment rates in February 2018 were reported in the Czech Republic (2.4%), Malta and Germany (3.5%). The highest unemployment rates are observed in Greece (20.8%) and Spain (16.1%).
On an annual basis, the unemployment rate in the first month of the year has fallen in all member states, with the exception of Estonia, where it grew. The largest declines are reported in Cyprus (from 12.6% to 9.6%), Greece (from 23.4% to 20.8%) and Croatia (from 12.0% to 9.6%).