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Wednesday, 31 March 2010

February 2010 - Euro area unemployment rate at 10.0%

The seasonally adjusted unemployment rate in February 2010 for the Euro Area was 10%, compared with 9.9% in January. It was 8.8% in February 2009. For the Euro Area this is the highest rate since August 1998

The unemployment rate for the European Union as a whole was 9.6% in February 2010, compared with 9.5% in January4. It was 8.3% in February 2009. For the EU27 counntries this is the highest since the start of the series in January 2000.

The  figures published by Eurostat, the statistical office of the European Union, estimates that 23.019 million men and women in the EU27, of whom 15.749 million were in the euro area, were unemployed in February 2010. Compared with January 2010, the number of persons unemployed increased by 131 000 in the EU27 and by 61 000 in the euro area. Compared with February 2009, unemployment went up by 3.139 million in the EU27 and by 1.844 million in the euro area.

Among the Member States, the second highest rates is in Spain (19.0%), only piped by Latvia (21.7%). The lowest unemployment rates were recorded in the Netherlands (4.0%) and Austria (5.0%).

Compared with a year ago, all Member States recorded an increase in their unemployment rate.

In February 2010, the youth unemployment rate (under-25s) was 20.0% in the Euro Area and 20.6% in the EU as a whole. For both zones it was 18.4% in February 2009. The highest rate was in Latvia (41.3% in the fourth quarter of 2009) with Spain (40.7%) again in second place.

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