Welcome to the Euro Area employment page. Here is where I’ll be keeping track of the Euro Area’s employment situation by monitoring the region’s unemployment and employment rates. The unemployment rate data for the Euro Area is released once per month and the employment rate data is released once per quarter by Eurostat, the European Union’s statistical office.
This page should be a great resource and value for anyone who wants to be monitor the strength of the Euro Area’s labor force. The information contained on this page will pertain to the EA17 (Euro Area 17) countries. Ok, without any further delay, let’s get into it.
During the month of August 2014, the Euro Area’s unemployment rate was 11.5%. The unemployment rate remained unchanged when compared to June and July 2014. Thought the unemployment rate has remained stagnate for more than 3 months, it did trend lower when compared to May 2014 (11.6%) and August 2014 (12%). In August 2014, 18,326,000 are unemployed in the Euro Area. That’s down by 834,000 people when compared to August 2013.
During the month of March 2012, the Euro Area’s unemployment rate was 10.9%. That’s an increase of 0.1% in the previous month, year over year. The unemployment rate is undoubtedly trending higher. 169,000 persons became unemployed from February to March 2012 and from March 2011 to March 2012, 1.7 million persons became unemployed in the Euro Area. Bad news.
During the month December 2011, the Euro Area’s unemployment rate was 10.4%. The unemployment rate remained unchanged compared to November 2011. Last year this time (December 2010), the unemployment rate was 10.0% flat. It appears that the unemployment rate is continuing to trend upward. From November 2011 to December 2011, 20,000 more people became unemployed in the Euro Area. Compared to December 2010, the number of unemployed persons increased by 751,000. Very grim news that may justify additional easing of monetary policy by the European Central Bank.