Unemployment in EU was 10% in November 2014, 11.1% in Bulgaria

Written by on January 7, 2015 in Business - Comments Off on Unemployment in EU was 10% in November 2014, 11.1% in Bulgaria

Unemployment in the European Union was 10 per cent in November 2014, an improvement both on a monthly and annual basis, with Bulgaria higher than the EU average at 11.1 per cent – but also showing an improvement.

This is according to figures released on January 7 2015 by EU statistics office Eurostat.

Eurostat’s seasonally-adjusted figures were that unemployment in Bulgaria in November 2014 was down from 11.3 per cent in October 2014 and from 12.9 per cent in October 2013.

Eurostat said that in the euro zone (which at the time had 18 members, before Lithuania joined on January 1 2015 to become the 19th), the seasonally-adjusted unemployment rate was 11.5 per cent in November 2014, stable compared with the previous month but down from 11.9 per cent in November 2013.

Among EU countries, the lowest unemployment in November 2014 was in Austria (4.9 per cent) and Germany (five per cent), and the highest in Greece (25.7 per cent in September 2014) and Spain (23.9 per cent).

Compared with a year ago, the unemployment rate in November 2014 fell in 22 EU countries, increased in four and remained stable in Belgium and Slovenia.

The largest decreases were in Greece (28 per cent to 25.7 per cent between September 2013 and September 2014), Hungary (9.5 per cent to 7.4 per cent between October 2013 and October 2014) and Spain (25.8 per cent to 23.9 per cent), and the highest increases in Italy (12.5 per cent to 13.4 per cent) and Finland (8.3 per cent to 8.9 per cent).

Regarding youth unemployment, Eurostat said that in November 2014, 5.101 million young persons (under 25) were unemployed in the EU28, of whom 3.409 million were in the euro area.

Compared with November 2013, youth unemployment decreased by 354 000 in the EU28 and by 58 000 in the euro zone.

In November 2014, the youth unemployment rate was 21.9 per cent in the EU28 and 23.7 per cent in the euro area, compared with 23.2 per cent and 23.9 per cent, respectively, in November 2013.

In November 2014, the lowest rates of youth unemployment were in Germany (7.4 per cent), Austria (9.4 per cent) and the Netherlands (9.7 per cent), and the highest in Spain (53.5 per cent), Greece (49.8 per cent in September 2014), Croatia (45.5 per cent in the third quarter 2014) and Italy (43.9 per cent).

In Bulgaria, youth unemployment was 21.4 per cent in November 2014, down from 21.7 per cent in October 2014 and 27 per cent in November 2013.

(Photo: Mark Puplava/freeimages.com)

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