1st December 2012

European unemployment rose again

The euro area unemployment rate rose to its maximum again in October 2012. Average percentage of unemployed in 17 countries with common currency was 11.7%, up from 11.6% in September 2012. Compared to 2011 numbers, unemployment grew by 1.3 percentage points. In the EU27, unemployment rate was 10.7% in October 2012, compared to 10.6% in September 2012 and 9.9% in October 2011.

As usual, the lowest unemployment rates were observed in Austria (4.3%), Luxembourg (5.1%), Germany (5.4%) and the Netherlands (5.5%), and the highest in Spain (26.2%) and Greece (25.4% in August 2012).

In August 2012, youth unemployment reached a new peak. It was 23.9% in the euro area and 23.4% in the EU27. The lowest rates were measured in Germany (8.1%), Austria (8.5%) and the Netherlands (9.8%) and and the highest in Greece (57% in August 2012) and Spain (55.9%).

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Members of the American Chamber of Commerce in the Czech Republic