The unemployment rate in the Euro area has fallen slightly to 12.1% in June, according to the latest figures.

Figures released by Eurostat, the EU’s statistics agency, show that the seasonally-adjusted figures remain consistent with numbers for May. However,unemployment remains at a record high.

The number of jobless in the EU27 is at 10.9%, down from 11% in May.

According to Eurostat estimates there are in total about 26.4 million out of work in the European Union, with 19.2 million of those in the Euro area.

Once again, Greece (26.9%) and Spain (26.3%) registered the highest number of unemployed. The largest yearly increase in jobless was recorded in Cyprus, where unemployment now stands at 17.3%, up from 11.7% in June 2012.

The lowest unemployment rates were recorded in Austria (4.6%), Germany (5.4%) and Luxembourg (5.7%). The biggest decrease in unemployment was recorded in Latvia, which saw its figure drop from 15.5% to 12.5% between the first quarters of 2012 and 2013. Estonia also saw a drop in jobless, falling from 10.1% to 8% between May 2012 and May 2013.

Youth unemployment (persons under 25) is estimated to be at 5. 5 million in the EU27, a decrease of 43,000 from this time last year. However, youth unemployment rose by the same amount in the Eurozone. The amount of young jobless in the Euro area is now at 23.9%, up from 23% in June 2012, with Greece and Spain recording the highest instances of young people out of work.


New Europe