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Economics Gazette

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November 14, 2019

EU unemployment slightly decreased in October 2017

EU unemploymentThe EU unemployment slightly decreased in October 2017, reaching 7.4% compared to 7.5% in September. On an annual basis, however, there was a more significant decrease compared to 8.3% in October 2016, representing a difference of 0.9 percentage points. This is the lowest unemployment rate in the region since November 2008. The unemployed citizens in the region during the tenth month of the year were a total of 18.243 million people.

Considering the Eurozone, the unemployment also declined by 0.1 percentage points in October vs September, reaching a level of 8.8%. On an annual basis, the decline was 1.0 percentage point and this is the lowest level since January 2009. The unemployed in the region were 14.344 million people in total.

Among the EU Member States, the lowest unemployment rates in October 2017 were reported again in the Czech Republic (2.7%), Malta (3.5%) and Germany (3.6%). Highest unemployment rates are observed in Greece (20.6%) and Spain (16.7%).

On an annual basis, the unemployment rate in October 2017 has fallen in almost all member states, with the exception of Finland, where it has remained unchanged. The largest declines are reported in Cyprus (from 13.1% to 10.2%) and Greece (from 23.4% to 20.6%).

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