Euro area unemployment rate down 0.1% to 8.4% in May

Market news

2 July 2018

Euro area unemployment rate down 0.1% to 8.4% in May

The euro area (EA19) seasonally-adjusted unemployment rate was 8.4% in May 2018, stable compared with April 2018 and down from 9.2% in May 2017. This remains the lowest rate recorded in the euro area since December 2008. The EU28 unemployment rate was 7.0% in May 2018, stable compared with April 2018 and down from 7.7% in May 2017. This is the lowest rate recorded in the EU28 since August 2008.

Eurostat estimates that 17.207 million men and women in the EU28, of whom 13.656 million in the euro area, were unemployed in May 2018. Compared with April 2018, the number of persons unemployed decreased by 154 000 in the EU28 and by 125 000 in the euro area. Compared with May 2017, unemployment fell by 1.828 million in the EU28 and by 1.252 million in the euro area.

Riksbank is widely expected to keep its key policy rate at a record low of minus 0.5%, but confirm its plan to start raising rates toward year-end despite stubbornly soft inflation and concerns over the housing market, UniCredit says

Eurozone: Unemployment Rate , May 8.4% (forecast 8.5%)

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