Euro Area and EU unemployment rate In January 2016
The Euro Area (EA19) seasonally-adjusted unemployment rate was 10.3 % in January 2016, down from 10.4 % in December 2015, and from 11.3 % in January 2015. This is the lowest rate recorded in the euro area since August 2011. The EU28 unemployment rate was 8.9% in January 2016, down from 9.0 % in December 2015, and from 9.8 % in January 2015. This is the lowest rate recorded in the EU28 since May 2009, according to Eurostat, the Statistical Office of the European Union
Eurostat estimates that 21.789 million men and women in the EU28, of whom 16.647 million were in the Euro Area, were unemployed in January 2016. Compared with December 2015, the number of persons unemployed decreased by 163000 in the EU28 and by 105000 in the Euro Area. Compared with January 2015, unemployment fell by 2.034 million in the EU28 and by 1.445 million in the Euro Area.
Among the Member States, the lowest unemployment rates in January 2016 were recorded in Germany (4.3 %), the Czech Republic (4.5 %), Malta and the United Kingdom (both 5.1 %, November data for the UK). The highest unemployment rates were observed in Greece (24.6 % in November 2015) and Spain (20.5 %).
Compared with a year ago, the unemployment rate in January 2016 fell in twenty-four Member States, remained stable in Estonia and increased in Latvia (from 9.7 % to 10.4 %), Austria (from 5.5 % to 5.9 %) and Finland (from 9.1 % to 9.4%). The largest decreases were registered in Spain (from 23.4 % to 20.5 %), Slovakia (from 12.3 % to 10.3 %), Ireland (from 10.1 % to 8.6 %) and Portugal (from 13.7 % to 12.2 %).
In January 2016, the unemployment rate in the United States was 4.9 %, down from 5.0 % in December 2015 and from 5.7 % in January 2015.
In January 2016, 4.434 million young persons (under 25) were unemployed in the EU28, of whom 3.037 million were in the euro area. Compared with January 2015, youth unemployment decreased by 408000 in the EU28 and by 217000 in the Euro Area. In January 2016, the youth unemployment rate was 19.7 % in the EU28 and 22.0 % in the euro area, compared with 21.0 % and 22.8 % respectively in January 2015. In January 2016, the lowest rates were observed in Germany (7.1 %), the Czech Republic (11.0 %), Denmark (11.1 %) and the Netherlands (11.2 %) and the highest in Greece (48.0 % in November 2015), Spain (45.0 %), Croatia (44.1 % in the fourth quarter 2015) and Italy (39.3 %).
The Euro Area (EA19) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
The EU European Union (EU28) includes Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom.
TextileFuture wishes to add, that Euro Area annual inflation is expected to be -0.2% in February 2016, down from 0.3% in January, according to a flash estimate from Eurostat, the statistical office of the European Union.
Looking at the main components of Euro area inflation, services is expected to have the highest annual rate in February (1.0 %, compared with 1.2 % in January), followed by food, alcohol & tobacco (0.7 %, compared with 1.0 % in January), non-energy industrial goods (0.3 %, compared with 0.7 % in January) and energy (-8.0 %, compared with -5.4 % in January).