Eurostat published its latest figures with regard to the unemployment rate in the euro area and in the EU, which show that the euro area unemployment rate was 12.1% in March 2013, up from 12.0% in February. The EU unemployment rate was 10.9%, stable compared with February. The lowest unemployment rates were recorded in Austria, Germany and Luxembourg, and the highest in Greece, Spain and Portugal.

The euro area unemployment rate was 12.1% in March 2013, up from 12.0% in February, while the EU unemployment rate was 10.9%, stable compared with February, according to Eurostat, the statistical office of the European Union. Compared with a year ago, rates have risen markedly in both zones, when they were 11.0% and 10.3% respectively. The euro area unemployment rate was 12.0% in February 2013, stable compared with January.

With regard to the figures registered by member states, the lowest unemployment rates were recorded in Austria (4.7%), Germany (5.4%) and Luxembourg (5.7%), and the highest in Greece (27.2% in January), Spain (26.7%) and Portugal (17.5%). Compared with March 2012, the highest increases were registered in Greece (21.5% to 27.2% between January 2012 and January 2013), Cyprus (10.7% to 14.2%), Spain (24.1% to 26.7%) and Portugal (15.1% to 17.5%). The largest decreases were observed in Latvia (15.6% to 14.3% between the fourth quarters of 2011 and 2012), Estonia (10.6% to 9.4% between February 2012 and February 2013) and Ireland (15.0% to 14.1%).

Eurostat also reported that in March 2013, the youth unemployment rate was 23.5% in the EU and 24.0% in the euro area, compared with 22.6% and 22.5% respectively in March 2012. The lowest rates were observed in Germany and Austria (both 7.6%) and the Netherlands (10.5%), and the highest in Greece (59.1% in January 2013), Spain (55.9%), Italy (38.4%) and Portugal (38.3%).