Eurozone unemployment rate rises to 10.1% in October

Seasonally-adjusted unemployment rate rose to 10.1% in October 2010, increasing by 0.1% compared to the same data in September. In the European Union as a whole the rate remained unchanged compared to the previous month and a value slightly lower than those registered in the Euro area reaching 9.6%.

According to the figures presented by the European Statistical Office (Eurostat), 23.151 million men and women in the European Union were unemployed in October 2010, 15.947 million of them were in the Euro area. These figures show an increase over the rates registered in September, with 84,000 more people unemployed in European Union and 80,000 in the Euro area. This rise of unemployment rate registered in October 2010, with 10.1%, exceeds by 0.1% November 2009 figures which were the highest registered since 1998.

Yearly comparisons show that unemployment rate rose by 590,000 people in the European Union compared with October 2009, being 402,000 in the Euro area.

Germany records the largest fall in unemployment rate

Among the Member States, the lowest unemployment rates were recorded in the Netherlands (4.4%), Austria (4.8%) and Luxembourg (5.0%), and the highest in Spain (20.7%), Latvia (19.4% in the second quarter of 2010) and Lithuania (18.4% in the third quarter of 2010).

Compared with a year ago, the unemployment rate fell in eight Member States and increased in nineteen. The largest falls were observed in Germany (7.5% to 6.7%), Malta (6.9% to 6.2%), Sweden (8.8% to 8.1%) and Finland (8.7% to 8.0%). The highest increases were registered in Lithuania (14.4% to 18.4% between the third quarters of 2009 and 2010), Greece (9.2% to 12.2% between the second quarters of 2009 and 2010) and Latvia (16.5% to 19.4% between the second quarters of 2009 and 2010).

Female unemployment rate registered a highest increase in relation to male's. Figures show that unemployment rate for males rose from 9.8% to 9.9% in the Euro area and from 9.5% to 9.6% in the Union, while for female unemployment the rate increased from 9.9% to 10.3% in the Euro area and from 9.2% to 9.6% in the EU27.

In October 2010, the youth unemployment rate (under-25s) was 20.1% in the euro area and 20.4% in the EU27. In October 2009 it was 20.2% and 20.6% respectively. The lowest rates were observed in Germany and the Netherlands (both 8.5%) and Austria (9.8%), and the highest rates in Spain (43.2%), Lithuania (35.3% in the third quarter of 2010) and Latvia (34.0% in the second quarter of 2010).

In the USA, the unemployment rate was 9.6% in October 2010. In Japan it was 5.0% in September 2010.