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Tuesday, 1 June 2010

Euro area unemployment rate at 10.1%

Today Eurostat, the statistical office of the European Union, has issued the unemployment figures for April for the European Union and the Euro Area.

The estimates are that 23.311 million men and women in the EU27 countries, were unemployed in April 2010 of these 15.860 million were in the Euro Area (16 countries). The number of unemployed increased by 25 000 in both the EU27 and the Euro Area compared from March 2010. The year on year comparison for the month shows an increase in unemployment of 2.400 million in the EU27 and by 1.275 million in the euro area.

Spain continues to show the second highest rate at 19.7%, second only to Latvia at 22.5%. In the April 2009 Spain had a figure of 17.7%, 2% lower than current. Since December 2009 the unemployment increase has been 0.7%, increasing by approximately 0.2% each month. The figures for the United Kingdom are not given for March or April so a direct comparison is not possible, but based on the trends from previous months the UK unemployment would seem to be a little less than 12% below that of Spain.

Youth (under 25) unemployment in the EU27 countries has remained static at 20.6% but for the Euro Area has increased by 0.1%, to 20.0%. Spain has seen a further increase of 0.2% to 40.3%, putting Spain as the highest in the EU27 countries.

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