Euro Area rate of inflation in June and EU Euro Area unemployment in May
Euro area annual inflation is expected to be 0.1% in June 2016, up from -0.1 % in May 2016, 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 June (1.1%, compared with 1.0% in May), followed by food, alcohol & tobacco (0.9%, stable compared with May), non-energy industrial goods (0.4%, compared with 0.5% in May) and energy (-6.5%, compared with -8.1% in May).
EU and Euro Area unemployment in May
The euro area (EA19) seasonally-adjusted unemployment rate was 10.1% in May 2016, down from 10.2% in April 2016 and from 11.0% in May 2015. This is the lowest rate recorded in the euro area since July 2011. The EU28 unemployment rate was 8.6% in May 2016, down from 8.7% in April 2016 and from 9.6% in May 2015. This is the lowest rate recorded in the EU28 since March 2009. These figures are published by Eurostat, the statistical office of the European Union.
Eurostat estimates that 21.084 million men and women in the EU28, of whom 16.267 million were in the euro area, were unemployed in May 2016. Compared with April 2016, the number of persons unemployed decreased by 96 000 in the EU28 and by 112 000 in the euro area. Compared with May 2015, unemployment fell by 2.166 million in the EU28 and by 1.440 million in the euro area.
Among the Member States, the lowest unemployment rates in May 2016 were recorded in the Czech Republic (4.0 %), Malta (4.1 %) and Germany (4.2 %). The highest unemployment rates were observed in Greece (24.1 % in March 2016) and Spain (19.8 %).
Compared with a year ago, the unemployment rate in May 2016 fell in twenty-six Member States, remained stable in Latvia and increased in Austria (from 5.9 % to 6.1 %). The largest decreases were registered in Cyprus (from 15.3 % to 12.0 %), Croatia (from 16.2% to 13.3%), Bulgaria (from 10.0 % to 7.3 %) and Spain (from 22.5 % to 19.8 %).
In May 2016, the unemployment rate in the United States was 4.7 %, down from 5.0 % in April 2016 and from 5.5 % in May 2015.
In May 2016, 4.197 million young persons (under 25) were unemployed in the EU28, of whom 2.885 million were in the euro area. Compared with May 2015, youth unemployment decreased by 503000 in the EU28 and by 270 000 in the euro area. In May 2016, the youth unemployment rate was 18.6% in the EU28 and 20.7 % in the Euro Area, compared with 20.6 % and 22.4 % respectively in May 2015. In May 2016, the lowest rates were observed in Malta (6.9 %), Germany (7.2 %) and the Czech Republic (10.1 %), and the highest in Greece (50.4 % in March 2016), Spain (43.9 %), Italy (36.9 %) and Croatia (31.4 % in the first quarter 2016).