Staggering Unemployment Hits EU, Bulgaria 8th

Politics » BULGARIA IN EU | August 31, 2012, Friday // 15:01
Staggering Unemployment Hits EU, Bulgaria 8th: Staggering Unemployment Hits EU, Bulgaria 8th Bulgaria, with the significant 12.4%, is 8th among the 27 EU Member States, by unemployment rate. File photo

The Eurozone seasonally-adjusted unemployment rate was 11.3% in July 2012, stable compared with June, but much higher, compared to 10.1% in July 2011.

The EU unemployment rate was 10.4% in July 2012, also stable compared with June4. It was 9.6% in July 2011.

These figures were published Friday by Eurostat, the statistical office of the European Union.

Among the Member States, the lowest unemployment rates were recorded in Austria (4.5%), the Netherlands (5.3%), Germany and Luxembourg (both 5.5%), and the highest in Spain (25.1%) and Greece (23.1% in May 2012).

Bulgaria, with the significant 12.4%, is 8th among the 27, by unemployment rate.

Compared with a year ago, the unemployment rate fell in ten Member States, increased in sixteen and remained stable in Slovenia. The largest falls were observed in Estonia (13.2% to 10.1% between the second quarters of 2011 and 2012), Lithuania (15.2% to 13.0%) and Latvia (17.0% to 15.9% between the second quarters of 2011 and 2012).

The highest increases were registered in Greece (16.8% to 23.1% between May 2011 and May 2012),

Spain (21.7% to 25.1%) and Cyprus (7.7% to 10.9%).

Eurostat estimates that 25.254 million men and women in the EU, of whom 18.002 million were in the Eurozone, were unemployed in July 2012. Compared with June 2012, the number of persons unemployed increased by 43 000 in the EU and by 88 000 in the Eurozone.

Compared with July 2011, unemployment rose by 2.104 million in the EU27 and by 2.051 million in the Eurozone.

Between July 2011 and July 2012, the unemployment rate for males increased from 9.8% to 11.3% in the Eurozone and from 9.5% to 10.5% in the EU2. The female unemployment rate rose from 10.4% to 11.4% in the Eurozone and from 9.8% to 10.4% in the EU.

In July 2012, 5.468 million young persons (under 25) were unemployed in the EU, of whom 3.388 million were in the Eurozone. Compared with July 2011, youth unemployment rose by 182 000 in the EU27 and by 204 000 in the Eurozone. In July 2012, the youth unemployment rate was 22.5% in the EU and 22.6% in the Eurozone. In July 2011, it was 21.3% and 20.7% respectively.

In July 2012 the lowest rates were observed in Germany (8.0%), Austria (8.9%) and the Netherlands (9.2%), and the highest in Greece (53.8% in May 2012) and Spain (52.9%).

In comparison, in July 2012, the unemployment rate was 8.3% in the USA. In June 2012, the unemployment rate was 4.3% in Japan.

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Tags: unemployment, rate, EU, eurostat, Bulgaria, Euro Area, Bulgaria

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